Jason's Message for the November - December Issue:

Most utility customers pay a bill and that is the end of it. SSVEC members own the cooperative. That ownership comes with real value: member equity

We are updating the name “capital credits” to “member equity” so the meaning is clearer at a glance. Member equity is your share of the cooperative’s margins. Each year, when revenues exceed expenses, your portion is allocated to your account. We use that equity to build and maintain lines, substations, and technology that keep power reliable and affordable. When financial conditions allow, our board retires a portion of prior years and returns it to members.

Our recent surveys tell us that only one in three members say they understand they are member-owners. The rest think of themselves as customers or are unsure. Ownership should not feel abstract. Member equity makes the relationship plain. It links your bill, our system investments, and the checks or bill credits you receive over time. 

The program itself. Allocations and retirements continue under our established financial policies. You will still see year-end communications that explain retirements and how to ensure delivery, especially if you have moved. If you have unclaimed funds from prior years, our team can help you reconnect those dollars with the right member. 

How simply and consistently we talk about it. You will begin seeing “member equity (formerly capital credits)” in print, on our website, and on your bill inserts. Over time we will shorten to “member equity” once everyone is comfortable with the updated term. 

As of this writing, the board has not yet met in October to evaluate options for handling member equity. Once that meeting concludes, you will see communications from SSVEC through our usual channels explaining the board’s decisions and what they mean for you. 

SSVEC operates at cost, focused on service. We do not send profits to distant shareholders. We invest in this system and in this community, then return value to the people who use the power. That is the cooperative difference. 

Come to our annual meeting, vote in board elections, and consider serving when a seat opens. Follow our updates, keep your contact information current, and encourage neighbors to activate their SmartHub account so they never miss a retirement notice. 

Member equity tells the story of ownership in two words. It is your share in SSVEC, and it grows stronger when members are informed and involved.