Giving Back is the Cooperative Way
Lane-Scott Electric is retiring almost $465,000 in capital credits to members this December.
The holiday season brings a spirit of generosity and compassion. It’s a time to reflect on our many blessings and uplift those in need. While this is certainly a special time of year, cooperatives like Lane-Scott Electric are deeply rooted in giving back to their local communities year-round.
Our mission is reliable power. Our purpose is people — the members we’re proud to serve. We strive to make a positive and meaningful impact in our communities. That’s why we organize a food drive, send care packages to our military folks, provide grants to organizations and non-profits in our communities, and sponsor many organizations throughout the year.
Another way Lane-Scott gives back is by investing in tomorrow’s leaders. Through electrical presentations, scholarship opportunities, and our youth programs including the Electric Cooperative Youth Tour and Cooperative Youth Leadership Camps, we aim to empower students for a brighter future. When we invest in our local youth, we strengthen the fabric of our community.
As a not-for-profit electric cooperative, we believe in giving credit where credit is due — to the members who shape our co-op. One of the ways we do this is through capital credits. Because Lane-Scott operates at cost, we give cash back to our members rather than outside investors or shareholders.
Here’s how capital credits work:
Lane-Scott members use the electricity we provide and pay their monthly bills, and we track their business with the co-op over time. Lane-Scott pays all operating expenses throughout the year, and if any operating revenue is leftover, we allocate it as capital credits. When financial conditions permit, the co-op’s board of directors votes to pay capital credits back to the members. Lane-Scott sends you a check or applies a credit to your energy bill.
This year we are returning almost $465,000 to members who had electric service with us in 1999 and 2000, totaling over $1.7 million returned the past 4 years!
Capital credits are just one of the many benefits of co-op membership. Giving back to our local members instead of outside parties is one of the many aspects that set cooperatives apart from other types of businesses.
Our members guide every decision we make and are the reason our co-op exists. To us, you’re more than a customer. This holiday season, we hope you’re proud to be part of a community-focused co-op that puts people before profits.
From your friends at Lane-Scott Electric Cooperative, we hope you have a bright, blessed holiday season.
To learn more about capital credits or ways we give back to local communities, visit www.lanescott.coop.