St. Croix Electric Cooperative is distributing $579,035 in capital credits to current and former members of the co-op from 1989 and 2006. After all expenses and obligations are paid each year, the remaining money is allocated as capital credits to individual member accounts based on the amount of electricity purchased during that year by that member.
A portion of the capital credits may be distributed after three years with the balance distributed after 20 years if the condition of the cooperative allows, as determined by the board of directors. The cooperative has distributed over $10 million in capital credits to members since the first capital credit distribution in 1953.
Capital credit check distribution began at an all-member open house at the cooperative's office in Hammond on Oct. 9. Eligible members in attendance picked up their checks.
Over 135 attendees signed their names to a message for Senators Feingold and Kohl in Washington D.C. The petition requests that any pending cap and trade climate change legislation be fair, affordable and achievable. Over 1,200 St. Croix Electric members have joined the campaign since August.
St. Croix Electric Cooperative supplies reliable electric energy to its over 10,000 member accounts throughout St. Croix County and adjoining areas. Based in Hammond, the non-profit business has been active since 1937.