What is the difference between dividend allocations and dividend payments?
Receiving a dividend payment is one of the primary benefits of being a member of Access Energy Cooperative. Organized as a cooperative, we are owned and operated by our members, and do not exist to earn profits. Instead, any revenues above the cost of doing business during a given year are considered “margins”.
Each year, these margins are allocated to each member’s dividend account based on their usage for that year. On your April or May bill, there will be a statement showing the amount of patronage dividends being allocated to your dividend account for 2022. The image below shows where you can find it on your bill.
The following month, the Board reviews the cooperative’s current financial condition. They determine if it is favorable to retire dividends from members’ accounts, and if so, how much will be retired. Dividend checks are then prepared to be handed out at the annual meeting of members on August 1st. Any check not picked up at the meeting will be mailed.
Members now have the option to choose to receive their dividend payments in the form of a bill credit, rather than a check. If you wish to set your dividend account up to receive a bill credit instead of a check, please contact our office at (866) 242-4232 or send an email to firstname.lastname@example.org.
Members who have closed their account with the cooperative have the option to receive the amount in their dividend account as a discounted lump sum payment or choose to receive payments at the normal retirement cycle which is currently 22 years. If you close your account and are interested in receiving a lump sum payment, please contact our office at (866) 242-4232 or send an email to email@example.com.
If you have a change of address, please keep the cooperative informed of where your dividends can be sent to. To update our address, submit questions, or receive further information about patronage dividends, click here to send us an email, or contact our finance department at 1-866-242-4232 or send an email to firstname.lastname@example.org.
$25 bill credit drawing will be held May 31st.
Each member who is signed up by May 31st to receive 2023 and future dividend payments as bill credits, in lieu of checks, will be entered into a drawing to receive a $25 bill credit. If you are already signed up, you do not need to sign up again.