Kaua‘i Island Utility Cooperative (KIUC) will begin issuing $1.7 million in 2021 patronage capital retirement bill credits to cooperative members in May, due to action taken by the Board of Directors at its April 28, 2022 meeting. 

Patronage capital is money that the cooperative has left over after paying all of its expenses and meeting its lenders’ expectations for financial stability. At the end of the year, money is credited to each member’s patronage capital account according to the amount the member paid for electricity. This is the member’s equity in KIUC.

As additional member equity funds come in year after year, KIUC is able to return some of its accrued capital credits by issuing patronage capital retirements to members. KIUC’s elected Board of Directors and the bylaws determine how and when capital credits are returned to members. 

Since becoming a cooperative in 2002, KIUC has built $134 million in equity and has returned over $43 million to its members, including nearly $35 million in patronage capital retirements.

The amount of each individual member’s retirement is based on energy usage. Most members will see their retirement amount as a credit on their monthly bill. Members with inactive accounts with a refund amount of $1 or more will receive a check. If the amount is less than $1, it will remain in the member’s patronage account until the cumulative amount reaches $1 or more, after which a check will be sent.

A list of frequently asked questions (FAQs) is attached.