Capital Credits to Be Retired
SVEC is a not-for-profit business that operates at cost. Revenues above the cost of doing business, known as margins, are allocated to our member-owners annually in the form of capital credits.
SVEC’s Board of Trustees can vote to retire capital credits if the financial condition of the cooperative will not be impaired. In light of the continued financial strength and sound management of your electric cooperative, the board has elected to retire approximately $775,000 in capital credits to members this year, bringing the total amount of capital credits retired over the life of the co-op to $13.5 million.
You can expect to receive a capital credit retirement if you were a member of SVEC at any time from 1987 through 2012. If the amount of your retirement is $5 or more, you will receive a check. If the amount is less than $5.00, it will be applied as a reduction to your May bill for April electric usage, or as a credit to your account if you are in the Prepay program.