A Distinct Advantage of Cooperative Membership
A cooperative is a not-for-profit business that is owned and operated by its members. A cooperative electric utility, like VEC, operates differently from shareholder-owned utilities in that we are not designed to create a profit for shareholders. You, our customers, are our owners, or “member-owners.” Your ownership is reflected in what’s known as member capital.
Member capital is your share of the money that remains at the end of the year after we pay our operating expenses. VEC reports your member capital balance on your monthly bills. We show this information on two bills each year: when we allocate the capital (typically June) and when we retire the capital (typically September). This information includes the amount of member capital allocated to you for the previous year, the amount of member capital returned to date, and your remaining member capital balance. Each year, we provide updated information.
For more information, check out our Frequently Asked Questions below or contact the member services department at 1-800-832-2667 or by email at firstname.lastname@example.org.