What are capital account credits?
BSU is not-for-profit community cooperative owned by its members. The IRS requires the utility to annually notify its members of the prior year's capital credit earnings. These earnings are allocated based on your bills. Members would be compensated for their capital credit earnings only in the unlikely event that Bonita Springs Utilities permanently ceases operation. Credits cannot be applied to current bills. If BSU closed, its assets would be used to first pay existing debts, and then to issue capital credits to its members. It is important to remember that these credits would be issued only if the utility closed, not if a member discontinues service.
When a member discontinues service, his capital credits remain, but an annual account update is no longer sent. To receive a distribution of assets based on capital credits if BSU closes, past members must keep current mailing addresses on file with the utility.
When a member discontinues service, his capital credits remain, but an annual account update is no longer sent. To receive a distribution of assets based on capital credits if BSU closes, past members must keep current mailing addresses on file with the utility.
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