Berkeley Electric Co-op giving nearly $1.75M back to members

Berkeley Electric Co-op giving nearly $1.75M back to members

BERKELEY COUNTY, SC (WCSC) - A good financial year Berkeley Electric Cooperative means money in the bank for its members.

The electric company will distribute $1,728,973.91 in the form of Capital Credits to customers this month, with portions being determined based on the member's total billings.

"Much in the same way that shareholders in publicly-traded companies receive dividends from the profits generated by a company, Capital Credits are the members' share of the co-op's margins," the company states. "However, since every member of the cooperative is also an owner, any savings the co-op manages to generate belongs to the members."

According to Berkeley Electric Cooperative, 25% of money gathered throughout the year are returned to its members. The company is required to hod back 75%, which is invested into the system for improvements.

The refund also includes $646,565.24 for decreased patronage.

Members can expect to receive their checks in mid-December. Those who were set to receive under $10 will be issued a bill credit.

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