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Former Clay Electric Co-op Board of Trustees member Robert S. “Doc” Mullins of Starke passed away on Monday, May 25. He was 87. Mr. Mullins retired from the co-op board in 2012... Continue Reading ›

Clay Electric is warning its residential and commercial members to be aware of scams being attempted by persons who demand immediate payment of delinquent bills. Across the... Continue Reading ›

A forecast team from Colorado State University has predicted a low level of activity in the Atlantic basin this hurricane season. Phil Klotzbach and William Gray of the CSU... Continue Reading ›

KEYSTONE HEIGHTS, Fla. – Clay Electric Cooperative’s members elected four members to the board of trustees during the co-op’s 77th annual meeting on Thursday, March 26 at the... Continue Reading ›

Clay Electric’s 77th Annual Meeting will be held on Thursday, March 26 in Keystone Heights. Members will find it to be an activity-filled day. The musical entertainment will be... Continue Reading ›

Beginning Monday, Feb. 9, members may request an absentee ballot for the upcoming Annual Meeting elections. This year’s Annual Meeting will be the first time in the history of the... Continue Reading ›

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Capital Credits

Capital Credits

Clay Electric's board of trustees declared a $5.25 million Capital Credits refund in January 2015 for current and former members who received service from the co-op between 1987 and 2013.

Capital Credits refunds are available to members of the co-op because Clay Electric is not-for-profit. As a result, at the end of each year when it's determined how much revenue exceeds total expenses, the difference is assigned to members as Capital Credits based on the amount each member was billed for electricity during the year.

For present members entitled to a pro rata share of the refund (must have received service sometime between 1987 and 2013), they received a credit on their March electric bill. Issuing a credit on an electric bill helps the co-op reduce expenses such as check printing, envelopes, postage, bank fees, etc. Former members were mailed their Capital Credits check to their latest address on file.

Also, as a special service for its business members, the co-op offers flexibility in the distribution of Capital Credits refunds in order to accommodate the particular needs of a business. For example, a business with multiple accounts may desire to have a single check issued or perhaps a credit to a single account as opposed to several accounts. Discuss your particular needs by contacting the Capital Credits section of the Finance and Administrative Department of the cooperative. Call your local district office and ask for extension 8237.

Capital Credits Q&A (PDF) 
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