Norris Electric is a cooperative, which makes it different from other utilities in many ways. One of the biggest examples of this difference is capital credits. This year, the Cooperative refunded $2,426,784.09 of capital credits to members who bought electricity from 1976 through 1978.
Most companies charge above and beyond what it actually costs them to run their business so they can generate profits for their investors. Norris does not operate this way. As a cooperative, Norris operates at-cost. Its rates are set to collect enough revenue to run and improve the business, not to generate profits for shareholders.
Each year, if there is excess revenue, it is divided and allocated as capital credits among all of Norris’s members. The dollar amount is based on how much electricity each member purchased that year. When the financial condition of the Cooperative permits, these capital credits are “retired”, or paid, to the member in the form of a check. Norris is proud to give back to our members and their families.
Checks were mailed out on May 15th to members who bought electricity from 1976 – 1978. If you have not received your check, please let us know. We may need your updated mailing address. Contact our office at 877-783-8765 or firstname.lastname@example.org.
See our list of Unclaimed Capital Credits. Contact our office if you find someone you know so we can get the funds to the proper heirs.