Now is the busy time of the year when we brighten our homes with Christmas lights, check off the names on our gift lists, and make plans for family gatherings. It’s also the season for giving generously and focusing on those who matter the most in our lives. At Victory Electric, you — our member-owners — are the primary focus of all we do, and you are the reason we exist. 
As member-owners, you have a stake in the ownership and success of the cooperative. Sharing that success with our local member-owners is a key part of the cooperative difference. Victory gives back to our member-owners and the community throughout the year by investing in youth, supporting local nonprofits and other organizations, and hosting community events. 
• Victory provides leadership development opportunities to young adults in our area with the Electric Cooperative Youth Tour to Washington, D.C., and the Cooperative Youth Leadership Camp in Colorado. These life-changing trips for future leaders give students a chance to see our government in action and learn about the energy industry and its future. 
• We award 10 Lightner Community Spirit Scholarships for $1,000 to area high school seniors and current college students who have shown academic achievement while demonstrating their commitment to community service. 
• Our trustees, in partnership with CoBank, have awarded $165,000 in CoBank Sharing Success Grants to nonprofit organizations in our service area over the past decade. The grant program helps local groups better serve our communities and make a meaningful impact. 
• Victory hosted member appreciation events this year in locations throughout our service area to connect with the individuals and communities we serve and express our gratitude. Connecting personally with you enables Victory’s trustees and employees to better serve your needs.

Capital Credits
Victory also gives back to members by assigning capital credits. Since 2019, Victory has retired more than $7.8 million in capital credits. 
Because Victory is a not-for-profit cooperative, our trustees set rates to generate enough money to pay operating costs, make debt payments and maintain emergency reserves, not to make a profit. When the revenue collected during the year is greater than the cooperative’s operating expenses, Victory allocates the balance — margins — to members. In a member-owned cooperative like Victory, member-owners receive a share of the co-op’s margins in the form of capital credits. 
After reviewing the cooperative’s financial health this year, the Victory Electric Board of Trustees authorized the retirement (refund) of $1,135,436 worth of capital credits.
Capital credit allocations are based on members’ rate class and the amount of electricity they purchased during the previous year. Victory retains the allocations of margins to use as operating capital to help us provide reliable power, maintain equipment and facilities, and make long-term improvements. This enables us to support business growth and provide the best electric service possible. Capital credit allocations help us build and sustain the cooperative in an industry experiencing massive changes and technological advances. 

When the board retires capital credits for a time period in which you received an allocation, you receive a refund as a bill credit or check, and your equity in the cooperative is reduced. Retired capital credits will appear on the December bill as a bill credit for current members who had an allocation in the years being retired. A check will be mailed to members who no longer receive electric service from Victory Electric and received an allocation of $50 or more in those years.
Your allocated capital credits remain in Victory’s records even if you move out of our service territory and no longer have electric service with us. That’s why it’s important to keep your address up-to-date if you move. When capital credits are retired for the years you had service with Victory and earned a capital credit allocation, having a current address on file will enable a refund check to reach you.

Energy Cost Adjustment (ECA)
All year, Victory works diligently to keep rates as low as possible while ensuring the cooperative can provide reliable, secure electric service and maintain a strong financial standing. The trustees and the leadership team make every effort to control costs and continue to provide lower rates on our member-owner bills. This includes sitting on the board at Sunflower Electric Power Corp. and keeping our wholesale power costs lower than our counterparts throughout the nation. 
For the year 2023, Sunflower was in the second position of the lowest quartile with one of the two lowest rates of our Generation and Transmission peers. Because of this, Victory has been able to pass through an ECA credit on our member-owners’ bills since October 2022 for an average reduction to our residential power bills of $147 each year. As we look back, we are proud to be able to give this benefit to our members as a lower monthly charge. That means more money in your pocket as you celebrate the holidays.
The Victory trustees, leadership team and employees wish you and your family a bright and blessed holiday season.