We are pleased to announce a capital credit distribution this month to all active members who have accrued those credits in 1994 and 2022. Choptank Electric operates with a cooperative structure and returns those profits to you, our members, in the form of capital credits. Unlike investor-owned utilities that return a portion of any profits back to their shareholders, our member-owners are returned those excess revenues.
In previous years, you may have received your capital credit as a check in the mail. In an effort to save you money and be more efficient, we are applying your capital credit directly to your electric bill in January. This saves you a trip to the bank and saves your Co-op on printing and postage costs to mail a check.
Choptank Electric Cooperative’s Board of Directors voted to return a total of $2.5 million to our members in January 2024. The amount of capital credits you earn is based upon the amount of electricity purchased in a given year. Keep an eye out for your January billing statement to see your capital credits applied.
We hope you take pride in being a member-owner of Choptank Electric. Capital credit distribution is one of the many benefits of the Cooperative working for our members. If you have any questions about your capital credit distribution, please call our Member Service Center at 1-877-892-0001.
Happy New Year,
Douglas D. Scott, Chairman of the Board
Choptank Electric Cooperative