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A forecast team from Colorado State University has predicted a slightly below-average level of activity in the Atlantic basin this hurricane season. Phil Klotzbach and Michael... Continue Reading ›

Clay Electric Cooperative’s members re-elected three members to the board of trustees during the co-op’s 79th annual meeting on March 30, 2017 at the cooperative’s central office... Continue Reading ›

Clay Electric’s 79th Annual Meeting is Thursday, Mar. 30, 2017 in Keystone Heights. Members will find it to be an activity-filled day. There will be health screenings, a... Continue Reading ›

The Central Florida Community Action Agency will be at the Salt Springs District office on Monday, March 20 from 10 a.m.-1 p.m. to help members who are Marion County residents... Continue Reading ›

Beginning in April, members who may have forgotten to pay their bill will no longer be receiving a courtesy phone call as a reminder. Due to a new ruling from the FCC, the co-op... Continue Reading ›

Clay Electric Cooperative’s board of trustees declared a record $8 million Capital Credits refund for members who received service from 1988 through 2015. Capital Credits... Continue Reading ›

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Capital Credits

Capital Credits

Clay Electric's board of trustees declared a record $8 million Capital Credits refund in January 2017 for current and former members who received service from the co-op from 1988 through 2015.

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 from 1988 through 2015), 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. To discuss your particular needs, call 1-800-224-4197 between 8 a.m. and 5 p.m. and ask for the Capital Credits section of the Finance and Administrative Department of the cooperative.

Capital Credits Q&A (PDF) 
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