At Bandera Electric, you are more than one of our customers … you are a member. That means that in addition to quality electric service, you are also entitled to benefits such as capital credits, discounts and direct involvement in the business of the cooperative. Bandera Electric now offers a payable on death membership option.
Each year, BEC distributes copies of its Annual Report to members at the Annual Membership Meeting in May. The report contains corporate updates, financial information and products and services available to our members.
As a member-owned, not-for-profit organization, your Bandera Electric annually allocates margins back to each member who had electric service during designated years, based on their total electric bill. The Co-op then pays capital credits, above what is required to operate the Co-op, back to each member based on their share of patronage capital. Since the inception of BEC, your directors have approved and returned over $21.8 million to members as of 2020.
Patronage capital is retained in order to maintain a sufficient level of equity that will enable your Co-op to continue effective and efficient operations, until the board of directors determines the financial condition will allow for a refund. Their goal is to authorize maximum refunds consistent with maintaining the financial soundness of your electric cooperative.
- CLICK HERE to find out if you have unclaimed capital credits.
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