DEFUNIAK SPRINGS, Fla., Dec. 5, 2021–CHELCO’s board of trustees approved a retirement of more than $2.8 million in capital credits to be returned to approximately 66,000 current and former members.
If CHELCO collects more money than it costs to operate, these additional margins–called capital credits–are returned to the members.
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 Okaloosa, Walton, Santa Rosa and Holmes counties.
CHELCO news release