Starting with our May 2023 payouts, member equity refunds of less than $100 will be distributed as bill credits instead of mailed checks.
Payments larger than $100 will continue to be distributed as mailed checks.
All members will still receive a member equity statement in the mail.
Because electric cooperatives operate at cost, any excess revenues, called margins, are allocated to members in the form of Member Equity.
Part of each year’s Member Equity is paid back to members, while another part is invested in the cooperative and paid back on a 25-year-or-less rotation.
With our December 2023 Member Equity refund, Holy Cross Energy has returned nearly $173.9 million to our members since 1963.
We track how much electricity you purchase and how much money you are billed for it throughout the year.
At the end of each year, we close our books and determine whether there are excess revenues, called margins.
We allocate these margins to our members based on the amount they were billed for electricity during the year.
When our financial condition permits, your Board of Directors decides to retire, or pay back previously allocated Member Equity.
Part of each year’s retirement is paid out to recent members, and part is retired on a 25-year-or-less rotation.
For example, our December 2023 distribution will return $2.8 million to nearly 36,000 members who purchased electricity from HCE in 2006 and 2007.
Our May 2023 payout was made to recent members.
A refund check is sent by mail to each qualifying member. Refunds less than $100.00 are applied to active members’ accounts.
