Boone REMC is now Boone Power! We rebranded in August 2025 to better reflect who we are and what we do.
Boone Power Distributes Nearly $142K in Capital Credits
As our President and CEO, Bill Conley, shared in last month’s magazine, Boone Power takes our cooperative business model seriously and remains committed to fairness, reliability, and transparency. Retiring capital credits is one of the unique business practices of cooperatives. Learn more about how this “cash back” process is built into our business model.
Being a cooperative means you, as a customer, are also a member-owner. When you pay your electric bill, you gain equity in our cooperative and share in its financial success. We don’t exist to make a profit. We use operating capital to maintain and improve our distribution system so that we can carry out our mission of providing the most reliable electric service possible.
After all expenses are paid each year, any remaining margins are credited to each member’s account according to the amount of electricity purchased. Think of it like a rewards or loyalty program — every kilowatt-hour you use builds up “points.” We call these “points” capital credits.
Assigning capital credits to members, instead of paying dividends to distant stockholders, is one of the ways your cooperative puts ownership into action.
Your equity in the co-op reduces the need for us to raise rates or borrow as much money (and pay as much interest) for expenses. The board of directors decides when to return some funds to members based on the cooperative’s financial condition. Capital credit disbursements can run years behind since margins are used to maintain our electric distribution system.
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