You may have seen or read about “patronage capital,” wondered “What?!” and glossed right over it. Well, don’t do that this time!
We’ll keep it short and sweet for you: For being a customer of Noble REMC, you get cash back over time. That’s it. It’s money in your pocket.
Belonging to the community we serve, we share our excess revenue back with the people we serve: you!
This is done over time, with disbursements benefiting members from as far back as 30 years ago to as recent as last year. The years and amounts are decided by the board — members elected by you — each year.
This year, those receiving cash back include members from the years 1989, 2000, 2001, 2002 and 2018. With the retirement of funds totaling more than $1 million, the amount each member receives is based on how much power the member used in those years.
So, what should you expect?
- Members will receive a check for the amount allocated to them.
- As printed checks can become costly, members will only receive a check if the amount is $10 or more.
- If you don’t reach that $10 threshold, don’t worry. Your patronage capital will accumulate over time and be returned when the balance reaches at least $10.
While a nice bonus in your pocket, what’s more important is that this cash back shows Noble REMC’s strength and financial stability, as well as serves as a reminder that you hold us accountable.
We don’t answer to shareholders; we serve you, our members.