To celebrate our 85th year in business, we are getting back to the roots of what it means to be a cooperative: YOU, the member, and our promise to provide you with excellent electric service at-cost. The embodiment of this profit-free promise is the annual capital credits reimbursement, the time of year when we put our money where our mouth is and give our would-be profit back to our members directly.
This year, we are giving back $2.4 million to the membership and are giving you the opportunity to claim your cut in-person at one of three patronage capital events: 7:00 A.M. to 6:00 P.M. June 8th at the Jonesboro headquarters, June 15th at the Paragould district office, and June 22nd at the Walnut Ridge district office. Guests can pick up their capital credit check, chat face to face with a cooperative representative, explore the services available from the cooperative like empower broadband and SmartHub, and learn more about the legacy of Craighead Electric and what it means to be a member.
How do you know if you will have a check to pick up at these events? Ask yourself this question: Did you have electric service from Craighead Electric at any time from July 2005 to December 2006 OR anytime during 2020? If so, congrats! You will receive a capital credits reimbursement this year! BUT, due to the expense of processing and mailing checks, if your refund amount is less than $50 it will instead be credited to your June 2022 electric bill.
You are a partial owner of the Electric cooperative, and your capital credits check represents your ownership stake in the company.
Give us a call if you are not sure if your capital credit check will be available for pick up or credited to your June bill.
If you do nothing, your capital credit check will be put in the mail like normal. You can expect it to be delivered by mid-July.
Yes. Capital credit disbursement will occur in the Spring going forward.
The best way to ensure that you receive any money due to you is to keep your mailing address current. To check or update your mailing address with Craighead Electric, please call us toll-free at 1-800-794-5012 or update your information in SmartHub. Even if you are no longer a member of the cooperative, you are still entitled to receive your proportionate share of capital credits.
Prior to this year, the Co-op refunded all capital credits from its founding in 1937 through 50% of 2005. By paying these capital credits from the remainder of 2005, all of 2006, and all of 2020, Craighead Electric will have returned $25,979,410.61 to current and former members in capital credit payments.