Membership is obtained by completing an application form and paying a membership fee and deposit. This entitles the new member to electric service. The fee and deposit are refunded when the member leaves the lines and all accounts for services are paid.
Cimarron Electric Co-op members are urged to keep the Cooperative informed of any changes in their membership status (including name, address, and phone number changes) so that the records can be kept current.
This is especially important for distribution of Capital Credit refunds as they are allocated and paid.
Capital Credits (margins) are to a Cooperative what profits are to a private business. Because we are a member-owned entity, Cimarron Electric strives to operate all segments of operation at cost. As a result, any margins (profits) are returned to you, the co-op member. Your share of these margins is called Capital Credits.
At the end of the year, net margins are allocated to each member in proportion to the member's Cooperative purchases during the year. The Board of Trustees decides when to retire Capital Credits based on the Cooperative's financial condition.
In the meantime, Cimarron Electric utilizes the money as working capital for operating and reinvesting in the Cooperative until a determination is made.