DMEA Retires $3.4 Million in Member Credits
Delta-Montrose Electric Association retired $3.4 Million in capital credits this week to more than 8,000 current and former cooperative members. DMEA’s Board of Directors approved the retirement in November after evaluating the co-op’s financial condition.
“Capital credits are a benefit unique to co-op members, and it’s our responsibility to ensure DMEA operates in a way where we continue to fulfill our cooperative principles. I’m proud to report DMEA’s finances are robust, and we are in a healthy position to return member credits,” said Kent Blackwell, Interim CEO and Chief Technology Officer.
Active and former DMEA members who purchased electricity in 1991 and 1992 will receive their capital credit this month. Retirements of $50 or less will be applied as a bill credit, and checks will be mailed to all members receiving more than $50. The average total retirement amount for a residential member is approximately $130.
How does the capital credit process work?
DMEA keeps track of how much electricity members buy and how much they pay for it throughout the year.
At the end of the year, the DMEA completes a financial analysis and determines whether there are excess revenues, called operating margins.
DMEA allocates operating margins back to members based on how much electricity the members purchased during the year.
When DMEA’s financial condition permits, the board of directors elects to retire (pay) those capital credits back to members.
Current cooperative members receiving a capital credit can expect to see their credit applied to their DMEA bill this month and checks to arrive within the next two weeks. DMEA also reminds members who move outside of the co-op’s service territory to provide updated forwarding addresses to ensure they receive future capital credit retirements. For more information about capital credits visit https://www.dmea.com/capital-credits.
Delta-Montrose Electric Association is a member-owned rural electric cooperative. Located in southwest Colorado, DMEA provides safe, reliable, and affordable electric service to approximately 30,000 members, primarily in Montrose and Delta counties. DMEA is a progressive and forward-thinking electrical distribution cooperative dedicated to meeting the diverse energy needs of its members. Learn more at www.dmea.com.