Bringing Christmas Cheer
As the year comes to a close, I would like to make a very special announcement and recap on the good we’ve been able to spread throughout the year.
The special announcement is, Lane-Scott Electric is ending the year by returning $500,000 in Capital Credits to our Members! In what has historically been one of the most challenging financial years in history, we couldn’t be happier to be able to give back to our members for the holiday season.
Members of Lane-Scott Electric are much more than customers, they are owners! As a non-profit electric cooperative, Lane-Scott Electric operates differently than other utilities. We operate at cost, giving us the opportunity to retire any funds in excess of our operating expenses back to our members in the form of Capital Credits.
In October of this year, the Board of Trustees decided how much could be retired, or paid out, based on the financial strength of the cooperative. The board approved $500,000 to be paid to the Lane-Scott Electric membership.
The years being paid out are a portion of 1998 and 1999. This means that active and non-active members who had electricity with us during this time period will receive capital credits. The amount that members receive depends on how much electricity they used during the payout period.
Members with active accounts receiving a retirement were mailed a letter in early November with the choice to either receive a check or have their electric account credited. The deadline to respond was November 18th, with the default as a credit to the account. Members who no longer have service with Lane-Scott but who were members during the payout years will receive a check in the mail to the address currently on file.
To confirm or update your mailing address please call us at 620-397-5327 or 800-407-2217 during normal business hours.
You’ve likely heard me say that the Cooperative Principle “Concern for Community” is part of Lane-Scott Electric’s DNA. It defines who we are as an organization. This year, we have invested in our members and communities in many ways.
Our community focused Co-Bank Sharing Success Program is in its third year. Through the program, we award grants to charitable organizations to do what they do best, providing the grass-roots services our communities depend on.
Supporting our local schools has always been one of our priorities. We partnered with local elementary schools in our annual food drive to support our local food pantries and members who rely on them. Our Continuing Education Program awarded $9,000 in continuing education scholarships. We were able to sponsor two students to attend the Cooperative Youth Leadership Camp in Colorado, supported the Dighton Electrathon team and Kid Wind teams. Additionally, we sent military care packages to Lane-Scott Electric members and family members actively serving in the military, sponsored, and participated in community events, and provided overhead line safety trainings as requested, and to our first responders.
We hope you will think of Lane-Scott as more than your energy provider, but also as a catalyst for good in our community. I hope all our members have a joyous holiday season. May it be merry and bright!