June Message from the Manager
Annual report and allocation statements
We want to remind members that the 75th Annual Meeting scheduled for this month has been postponed. We look forward to hosting this event later in the year when it becomes safe to do so.
We mailed the cooperative’s 2019 Annual Report to all members the end of May. We encourage you to review the report and contact us with any questions or comments you may have about the information contained in the report.
Capital credit allocation statements for 2019 were also mailed the end of May to all members who received electric service from the cooperative in 2019.
The allocation statement shows your capital credit allocation for 2019, the balance of your unretired capital credits from previous years and the current total of your capital credit account.
As a not for profit electric cooperative, BDEC allocates the annual operating margins, or profits, to members purchasing electric service from the cooperative. Money allocated back to you and other members is called capital credits.
The allocation becomes your equity in the cooperative and is maintained in a separate account assigned to you. When the co-op’s financial condition permits, the co-op retires, or pays, the capital credits to members.
The amount of capital credits allocated to you in a given year is based upon the amount of capital you contribute to the co-op through payment of your monthly electric bills. The more kilowatt hours of electricity you buy, the greater the amount credited to your capital credit account.
As always, please contact us with any questions you have regarding your allocation statement, the capital credit process or your co-op in general.
We hope everyone is staying safe and healthy during these uncertain times.
Until next time,