Intercounty Electric Cooperative members will share in about $1.7 million in capital credits from 1993. The distribution will arrive in mailboxes in early June.
The board of directors approved returning 50 percent of the remaining capital credits from 1993, the cooperative said.
Capital credits are allocated each year that the revenues of Intercounty Electric exceed expenses. The capital credit amount is based on the electricity purchased in relation to the total electricity bought by all members during the fiscal year.
If there is revenue in excess of expenses – known as patronage capital or capital credits – it may be refunded by the board once the financial guidelines established by the Rural Utilities Service have been met.