Flint Energies’ Board of Directors has authorized the distribution of $2.38 million in capital credits to members of the Cooperative who purchased power from Flint in 1983 and/or 1984, according to Chief Executive Officer Bob Ray. The distribution will completely refund the 1983 capital credits and will refund a portion of 1984.
“Roughly 12,900 currently active members will receive a bill credit on their primary electric account in September for the amount of their capital credit refund,” said Ray. “This tradition continues our effort to look after our members’ best interests.”
By paying capital credits refunds in September, Flint hopes to help offset the higher light bills that many members see at this time of year. Around Sept. 15, about 17,700 checks will be mailed to those who were members of Flint in 1983 or 1984, but no longer get their electric service from the cooperative.
What are capital credits and how are they paid?