How do capital credits work?
As a member of Blachly-Lane Electric Cooperative you are more than just a customer, you are part investor. As a not-for-profit cooperative, BLEC operates at cost. BLEC tracks how much electricity you buy and how much money you pay for it throughout the year, this is called patronage. At the end of the year, BLEC completes financial matters and determines whether there are excess revenues, called margins. BLEC then allocates the margins to members as capital credits based upon their use of electricity during the year. Any excess revenues, called margins, are returned to members in the form of capital credits. When financial conditions permit, the BLEC Board of Directors approves the allocation and retirement of capital credits. BLEC then provides capital credit checks to members based on their patronage and the amount retired by the Board of Directors. BLEC operates on a 20 year rotation, this means that capital credits that have been allocated to members are returned, or retired, approximately 20 years after allocation.
It's important to provide contact information!
It is important that all members, including past members, keep a current mailing address on file with BLEC in order to assure that they receive any capital credits issued to them. Update your mailing address by calling us at 541-688-8711 or 1-800-446-8418 Monday-Friday from 8:00 a.m.-4:30 p.m. You may also complete this contact form, and a BLEC representative will call you to confirm your address change.