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 Hancock-Wood Electric are deeply rooted in giving back to their local communities year-round. 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. In 2024, the Hancock-Wood board of trustees has approved to return of $3.25 million in capital credits. Members will receive this credit on their December bills. Because Hancock-Wood Electric operates at cost, we give cash back to our members rather than outside investors or shareholders.

Here’s how capital credits work: Hancock-Wood members use the electricity we provide and pay their monthly bills, and we track their business with the co-op over time. Hancock-Wood Electric pays all operating expenses throughout the year, and if any operating revenue is left over, we allocate it to members as capital credits. When financial conditions permit, the co-op’s board of directors votes to pay capital credits back to the members. Hancock-Wood Electric sends you a check or applies a credit to your energy bill. 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.