KEC Returns 1 Million to Members
Members will receive capital credit return on their November Bill.
The Karnes Electric Board of Directors has approved the retirement of capital credits for members who received electric service in 1994. Additionally, the Cooperative is retiring a portion of capital credits for members who had electric service in 2023.
In 2023, over $1 million has been authorized for return, bringing the total capital credits returned to date to over $24.96 million. Capital credits are a fundamental part of the cooperative business model, earned by members based on their electricity usage. They represent the members’ share of the Cooperative’s margins during their membership tenure. As a not-for-profit entity, Karnes EC returns excess capital to its members based on the Cooperative’s financial condition.
Current members who had electric service established prior to 2023 will see the credit applied to their November bills. Past members eligible for a credit of $5 or more will receive a check by mail.
Members who have had an address change are encouraged to contact Karnes EC at 888-807-3952 or by emailing karnes@karnesec.org. Keeping the Cooperative informed of any address changes, even after closing an account, is crucial to facilitate the delivery of capital credit checks.
