Cooperatives & Capital Credits
In 2022, FKEC returned Member Capital Credits totaling $1,840,110. If you were an FKEC member in 2003 you received either a check in the mail or a credit on your November 2022 electric bill.
As a not-for-profit, member-owned cooperative, FKEC calculates our annual margins by taking the total revenue and subtracting all operating costs. The resulting margins are then allocated to each member based on their patronage, which is the amount of electricity he or she purchased during that year in proportion to the total amount purchased by all members. Once these margins are allocated they are called Member Capital Credits.
Like other electric co-ops, FKEC retains its Member Capital Credits for a number of years to invest in improvements and maintain the electric system. This also helps to offset the amount of money the co-op borrows, which lowers the rates on your electric bill.
Based on cumulative returns, FKEC ranks first among Florida’s 16 electric cooperatives and is in the top 10% among the nation’s 900+ electric cooperatives.
If you move out of FKEC’s service territory or are no longer an active member, it is your responsibility to keep FKEC informed of your current mailing address. This enables us to properly forward your payment to you when Member Capital Credits are refunded for the year or years of your membership.
Frequently Asked Questions
Each year, FKEC calculates our annual margins by taking our total revenue and subtracting all operating costs. The resulting margins are then allocated to each member based on their patronage, which is the amount of electricity he or she purchased during that year in proportion to the total amount purchased by all members. Once the margins are allocated to each current member for that year, they are then called Member Capital Credits
Like other electric cooperatives, FKEC retains its Member Capital Credits for a number of years to invest in improvements and maintain the electric system. This also helps to limit the amount of money the Cooperative borrows, which in turn helps lower the rates on your electric bill.
If your neighbor purchased more electricity than you, his or her refund will be larger.
If you have an active account and are due a refund less than $100, you will receive a credit on your November electric bill. If your Member Capital Credit refund is $100 or more, you will receive a check. Capital Credit checks less than $20 will only be mailed to former members if it’s the final balance pay-out.
Contact FKEC to change the name(s) on the account. We will begin to reissue new checks in May of the following year.
Download the Deceased Member Affidavit (PDF) application or contact FKEC for a copy. Once complete, it will be reviewed by our attorney and a check reissued based on his instructions.
Capital Credits transfer forms currently available online:
Contact a Member Service Representative at (305) 852-2431 or send email.