CORINTH, Texas—September 30, 2019—The CoServ Electric Board of Directors has approved a Capital Credit retirement of $19 million for CoServ Electric Members.
Since 2003, $146 million has been returned to CoServ Members.
Because CoServ Electric is a nonprofit cooperative, excess revenues over expenses are divided proportionally by the amount of electricity each CoServ Member uses throughout the year. These margins, called Capital Credits, are allocated each year to Members and former Members. At the discretion of the CoServ Board, these Capital Credits are retired (paid).
This year, Members with retirements of $200 and above received a check; those with retirements below $200 received a credit on their accounts. Former Members and estates received checks via the U.S. Postal Service.
In additon, Capital Credits also were retired this year related to Brazos Electric Power Cooperative, our generating and transmission provider. These distributions were made in September.
For more details about Capital Credits, please visit CoServ.com/CapitalCredits.
Established in 1937 as Denton County Electric Cooperative Inc., CoServ is based in Corinth, Texas, and provides safe, reliable and innovative energy solutions to more than 250,000 electric and natural gas customers in Collin, Denton and five other North Texas counties. CoServ belongs to the communities we serve because we were built by them.