Norris Electric is a not-for-profit electric cooperative. It is owned by those members who use our services. At the end of each year, any operating margins, or profits, are allocated to members receiving electric service during that year in the form of capital credits.
Capital credits represent member ownership, or equity, in the cooperative. A yearly capital credit statement is sent to current members if there are margins to be allocated. Capital credits are not cash sitting in an account and can not be used towards payment of an electric billing statement.
Capital credits are used to operate the cooperative and remain on file until they are refunded by the board of directors. Prior to refunding capital credits, the board carefully considers the cooperative's financial position and necessary long-range capital improvements, prior to offering a "general capital credit refund." The board can announce a general refund at anytime.