Because Vigilante Electric is a cooperative business, we return our profits to our patrons. The Capital Credit system, which was adopted at the 1947 annual meeting, provides a method for allocating to each individual member their share of excess revenues, or net margins. Your share of the capital credits for the year depends on the amount you have paid into the cooperative during that year and on the total margins of the cooperative for the year.
Vigilante Electric retains your capital credits for a number of years and uses that money as operating capital. By retaining your capital credits, we reduce our need for borrowed operating money. As money is available, and as the board decides, we pay capital credits to all people who were members in a certain year. Each year members receive a notice showing the amount of capital credits that have been credited to the member’s account for the past year.
In the event of the death of a cooperative member, our main office should be contacted as soon as possible to discuss options concerning estate payments. If you move or leave Vigilante’s service area, call the office and let us know your forwarding address. As capital credits are paid in the future, they will be sent to your last known address.
When a member permanently terminates all electric service with Vigilante Electric Cooperative (as opposed to temporary disconnection of service), the member may be offered the option of receiving a discounted amount on capital credits for all years.