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OTEC to Return $3 Million in Capital Credits to Member-Owners

Tuesday | November 3, 2020
All News

Oregon Trail Electric Cooperative’s Board of Directors has approved the retirement of $3 million in capital credits to its member-owners. This is the third-highest return in the Cooperative’s history.

Capital credit retirements are one of the more visible benefits of membership in an electric cooperative. Capital credits are each member-owner’s share of OTEC’s margins earned during the year. Each year, after all operating expenses have been paid, remaining margins are allocated to each member’s capital credit account based on the amount they were billed during previous years.

These capital credits become each member’s “owners’ equity” and investment in OTEC. Each year, the Board makes a decision on how much they can return to members, without reducing the cooperative’s financial strength.

“Being able to return capital credits represents OTEC’s commitment to operating a financially solid electric Cooperative,” said Heidi Dalton, OTEC’s Chief Financial Officer. “Just as we are committed to keeping the lights on and power flowing, we are also committed to returning to our member-owners a portion of what they have paid the cooperative for their electricity. We thank our Board of Directors for ensuring that OTEC operates a financially strong Cooperative and their support of this significant financial distribution.”

Members can expect to receive their checks in mid-December. Returns are applied directly to the member’s account if the amount is less than $15, or if the member has a past due balance. Members with returns greater than $15 and no past due accounts will receive a check in the mail.

Since OTEC first began retiring capital credits in 1996, the co-op has returned $46 million to its member-owners. Unlike an investor-owned utility, which returns a portion of profits back to their stockholders, non-profit cooperatives like OTEC allocate and periodically return those funds back to the member-owners of the cooperative who live in our communities.

OTEC members who may be leaving the cooperative are encouraged to provide OTEC with a current mailing address so that capital credits can be returned as they are retired.

Please visit our Capital Credits page for more information on Capital Credits.

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OTEC Office Phone Numbers

Baker: 541.523.3616

Burns: 541.573.2666

John Day: 541.575.0161

La Grande: 541.963.3155

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8 AM – 5 PM | Monday – Thursday

9 AM – 5 PM | Friday

 

Offices Closed Holidays

January
1st | New Year’s Day
February
15th | Presidents’ Day
May
31st | Memorial Day
July
4th | Independence Day
September
6th | Labor Day
November
11th | Veterans Day - Observed
25th & 26th | Thanksgiving
December
25th | Christmas

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©2021 Oregon Trail Electric Co-op. All Rights Reserved.

  • Home
  • About Us
    • Your Cooperative
      • History
      • What Is A Cooperative?
      • Where Your Power Comes From
    • About Touchstone Energy
    • Your Board of Directors
    • Annual Meeting & Board Elections
    • Bylaws, Tariffs and Rates
    • Careers
    • Contact Us
  • Members
    • Apply for Membership/Service
    • Bill Pay
    • Capital Credits
    • New Construction
    • Sample Bill
    • Value of Membership
  • Community
    • OTEC Member Foundation
    • Charitable Giving
    • Dolly Parton's Imagination Library
    • Scholarships
    • DC Youth Tour
    • Idaho Youth Rally
    • Member to Member
  • Economic Development
  • Energy Solutions
    • Programs & Rebates
    • Renewable Energy
      • Oregon's Hydropower
      • Solar
    • Electric Vehicles (EVs)
    • Touchstone Energy Savings
  • Safety & Education
    • Safety First
    • Wildfire Preparedness
    • Call 811 Before You Dig
    • Kids Electrical Safety Artwork Contest
    • Safety Quiz
  • Outage Center
    • Outage Map
    • Restoration Process
  • News
    • Publications
    • Ruralite
    • Press Releases
    • Legislative