At Great Lakes Energy, you’re more than just a customer; you’re a member. As a member, you’re entitled to a share of the margins or profits your cooperative earns.
GLE maintains an annual record of your share of margins. Your share is referred to as a “capital credit allocation” and remains with the co-op until financial conditions permit us to return the margins to you.
Watch for a short message on your June 2017 bill informing you of the capital credit allocation amount you earned in 2016. This amount is not a refund, but a record of your 2016 investment in your cooperative. You will be notified when part of your allocations is to be returned to you as a refund, which is expected in December. Details on refunds will be shared later this year in Michigan Country Lines.
How Is My Share Determined?
GLE allocates capital credits based on the total amount members pay each year for electricity. If the total you paid last year was different than your neighbor’s, your allocation amount will also be different.
What happens with my capital credit allocation money?
Capital credits represent operating capital provided by our members to the cooperative and are a major source of equity and operating funds for GLE. Capital credits help make it possible for us to secure loans, improve electric service reliability, and expand our system to meet the demands of our membership.
Great Lakes Energy’s capital credit refunds program is another way we look out for you.