CFEC to Return $860,000 in Capital Credits to Members

Chiefland, FL - (August 30, 2024) At its August board meeting, the Board of Trustees of Central Florida Electric Cooperative, Inc. (CFEC) voted unanimously to return $860,000 in capital credits to its member-owners.

This decision will benefit members who received electric service from CFEC for the year of 1996 and a portion of the year 1997. The amount returned to each member is based on the amount of electricity they purchased for that given year. Members receiving less than $25.00 in capital credit returns will see a credit on their electric bill. Those receiving more than $25.00 in capital credits will be mailed a check in September.

Unlike investor-owned utilities, cooperatives like CFEC are owned by the members they serve. Member-owners build equity in the cooperative through their purchase of electricity and are entitled to share in the profits—amounts that exceed operating costs. As a not-for-profit cooperative, CFEC allocates these margins back to members in the form of capital credits when the cooperative's financial position allows and bylaw provisions are met.

To date, CFEC has returned more than $29 million in capital credits to its members, reinforcing its commitment to operating for the benefit of the community it serves.

For more information on capital credits and member benefits, visit www.cfec.com or contact CFEC at 352-493-2511.