What happens to my Capital Credits if I leave the area or die?
Your capital credit allocation stays connected to your name until the date of distribution – so please keep OPALCO posted of address changes. If a member dies, a representative of the estate must request the credits by submitting a Application for Retirement of Decedent Capital Credits. Any capital credits distributed before their full term are discounted.
What are Capital Credits?
Capital credits represent each member’s ownership in the Co-op. OPALCO does not earn profits. Instead, revenues over and above the cost of doing business are called “margins.” Margins represent an interest-free loan for operating capital made to the cooperative by the membership. Capital credits are returned to members on a 25-year cycle. For example, in 2008, OPALCO retired the capital credits allocated in 1983. The decision to issue capital credits is made by our Board of Directors after a thorough examination of the financial position of the Co-op at year’s end. Your capital credit amount is allocated each summer (see it on your bill) and checks are mailed at year-end.
How do I make a change to my electric service?
A member service representative can help you stop, move or change your electric service.