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Member Equity

Member equity refunds are now bill credits.

Member equity refunds of less than $100 will now 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.

Questions about your member equity?

How does member equity work?

Because electric cooperatives operate at cost, any excess revenues, called margins, are returned to members in the form of Member Equity.

Part of each year’s Member Equity is paid to recent members, while another part is reserved to be paid back on a 25-year-or-less rotation.

With our May 2024 Member Equity refund, Holy Cross Energy has returned $175.6 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 members based on the amount they were billed for electricity during the year.


Part of your allocation is paid back to you the following year, when our financial condition permits.

We send refunds to each qualifying member via bill credit or check.

For example, our May 2024 payout represents Member Equity from members who purchased electricity from HCE in 2023.

The remaining portion of the margin is invested into our utility system rather than taking out loans and paying interest.

Less than 25 years later, we will return these funds back to members, too.

Look for these refunds annually in December.