DeFuniak Springs (Dec. 1, 2021) – CHELCO’s Board of Trustees has approved a retirement of over $2.8 million in capital credits to be returned to approximately 66,000 current and former members.
CHELCO exists to provide members with electric service. If CHELCO collects more money than it costs to operate, these additional margins are returned to the members. These margins are called capital credits.
Each year, the Board of Trustees determines if CHELCO’s financial condition will allow the retirement of a portion of the capital credits. CHELCO retires capital credits and returns them to members on a 20-year cycle, meaning that those who were CHELCO members in 2001 and/or 2020 will receive a capital credit check based on how much business the member did with CHELCO in those years.
CHELCO will begin distribution of capital credits in early December. Visit CHELCO.com to learn more about capital credit allocations and retirements.
CHELCO is a not-for-profit electric distribution cooperative serving more than 58,000 accounts in Walton, Okaloosa, Holmes and Santa Rosa counties.