Nolin to Retire Over $2 Million in Capital Credits
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Nolin is retiring nearly $2.4 million of capital credits for the years 1990 and 2018. Nolin RECC members who received a capital credit allocation during 1990 or 2018 can expect to receive a bill credit or a check in the mail sometime later this month or in January.
How do Capital Credits work?
Like any business, we have many expenses through our normal course of activity. When we have remaining amounts of revenue after all expenses are paid, these are not considered profits; they are known as “margins.” The amount of these margins in any given year equal the amount of capital credits that are allocated to you. For many reasons, these margins may be needed as capital to address immediate reliability or maintenance concerns, repairs from a major outage event, or to cover the cost of an uptick in new construction projects. Therefore, at some point after an allocation, when the financial position of the cooperative is such that we can return the margins to you, a general retirement of capital credits will be made and you will receive those funds.
What about a deceased members’ estate?
A discounted retirement of any accumulated capital credits is payable to the estate of deceased members. Application for discounted retirement can be made by an authorized representative of the estate. Call us or stop by our Elizabethtown or Radcliﬀ office for more information.
What do I need to do?
Unless you need to contact us about a deceased member’s estate, you do not have to do anything to receive your allocation. If you have any questions about how capital credits work, call our office at 270-765-6153.