When will members receive this money?
Patronage allocations are returned to member-owners in the form of capital credit retirement. These are returned at a future date, if or when, approved by the board of directors. If you are a current member-owner of CCECA, this credit is returned to you as an account credit and may be seen on your August billing statement. If you are no longer a member-owner of CCECA, your credit is mailed to you as a check.
How is patronage calculated?
The amount a member-owner earns in a given year is based upon the total dollar billing for that year. The sum of the member-owner's bills for the year is multiplied by a percentage to determine the allocation.
Can this be used to pay their electric bill?
No. These funds are not available to the member-owner until a future date.
What if a member moves?
If a member-owner moves or no longer receives services from CCECA, it is important to keep their address current with the co-op, so future patronage retirements are mailed to the former member-owner's current address.