In action taken at the November 15, 2016 Board Meeting, the Y-W Board of Directors authorized the general retirement of capital credits from 1995-96 amounting to $2,000,000.
In addition to the general retirement of capital credits for 1995-96, the Board also authorized payments to estates during the course of 2016 in the amount of $141,000, bringing the total amount of capital credit retirement to $2,141,000. In the prior ten years, 2006 through 2015, Y-W Electric has refunded capital credits totaling more than $12,500,000.
If you were a member/consumer of Y-W Electric in 1995 or 1996, you can expect to receive a refund check based upon the amount of electricity you used during that year. The checks will be mailed out on December 19, 2016. To lower the costs associated with refunding capital credits, any refund amount less than $10.00 will be credited to your December 15, 2016 billing statement. If you are no longer receiving electric service from Y-W Electric, you will receive a refund check only if the amount is $10.00 or greater.
Any amount less than $10.00 will be retained in your capital credit account. The yearly refunded amounts will accrue until the total reaches the $10.00 check limit, at which time a refund check for the total stored amount will be issued. If you prefer a check for any amount under $10.00, please contact our office. Y-W Electric Association, Inc. is a cooperative owned by its members. All margins (profits) that remain at year-end are then allocated to be returned to the members as the financial condition of the cooperative allows. As member/owners, you have a voice in how your cooperative is managed, through your elected Board of Directors who oversee the management and policies of the cooperative.