BAKER CITY — Oregon Trail Electric Cooperative’s Board of Directors has approved the return of $3 million in capital credits to its member-owners.

OTEC in a press release Wednesday, Nov. 30, explained capital credit retirements are one of the more visible benefits of membership in an electric cooperative.

“Our competitively priced, clean power supply along with our continued efforts to maximize efficiencies and control costs make these refunds possible,” Chief Executive Officer Les Penning said. “Our business model allows us to focus on providing reliable service and competitive rates to our membership, not on making profits.”

Capital credits are each member-owner’s share of OTEC’s margins earned during the year. Each year, after operating expenses have been paid, the remaining margins are returned to the member’s capital credit account based on the amount they were billed during previous years. Since OTEC first began retiring capital credits in 1996, the co-op has returned $52 million back to its members and communities.

“As capital credits reflect each member’s ownership in the cooperative, it’s a great achievement to reach the $50 million milestone,” OTEC’s Board of Directors President Wayne Overton said. “It’s important for us to demonstrate to our members what it means to be a cooperative. What better way to demonstrate that than to return capital credits?”

Returns are applied directly to the member’s account if the amount is less than $15. Members with returns greater than $15 and no past due accounts will receive a check in the mail in mid-December.