As a member of our not-for-profit electric cooperative, you have certain rights and privileges that you will not find with other types of electric utility companies.
One of these privileges is "Capital Credits." As a member/owner on our lines you furnish capital for the cooperative. All patronage capital received in excess of operating costs and expenses is allocated to you in the form of capital credits. It’s important to realize that capital is the infrastructure of our company; it is not cash in our bank account. If you received a letter saying you have $50 of capital credits this year, that $50 may have paid for part of a transformer or utility pole.
As an energy cooperative, we receive capital credits from our power supplier — Wabash Valley Power Association. These credits are also returned to our membership as we recognize that it was your money purchasing the power — so you should get the money back.
The REMC and WVPA capital credits are issued to the members upon the approval of the Board of Directors depending upon the financial condition of the cooperative.
If you move off of our electric lines, contact us with your new address so future capital credit checks are mailed to the correct address. Starting in 2017, the notice regarding the amount of capital credits allocated to you will be at the top of your bill, not a letter as we have done in the past.