BAKER CITY — Oregon Trail Electric Cooperative member-owners can expect an early Christmas present: a check.

OTEC will return $3 million to its member-owners in capital credits this year, the co-op announced in a news release.

Capital credits represent each member’s share of OTEC’s margins earned during the year. Each year, after all the co-op’s operating expenses have been paid, the remaining funds are allocated to each member’s account based on the amount they were billed during previous years.

Since OTEC began retiring capital credits in 1999, the co-op has returned $49 million to its members, according to the news release.

If the amount is less than $15 or if the member has a past-due balance, then the credit is applied to the member’s account. Otherwise, the member will receive a check in the mail.

Checks are expected to arrive in mid-December.

“Positive financial conditions allowed us to return these funds to our members,” OTEC Chief Financial Officer Heidi Dalton said. “Our financials are strong, and we’re proud to demonstrate the power of the cooperative business model through capital credit retirements.”