Capital credit checks coming to a mailbox near you this May

Posted on Apr 20 2017 in Steuben County REMC

Members, were you a part of our cooperative during the years of 1996 to 2004? If so, be on the lookout for your capital credit check coming this spring.

The board has allocated over $377,000 to be returned to our members receiving service from 1996 to 2004 as part of the retirement from our generation and transmission facility, Wabash Valley Power. Each member receiving service at that time will receive their payout in full for the years 1996-2003 and a portion of 2004; this does not include the cooperative’s capital credit allocation, which will be retired at a later date.

If checks are received for members no longer living, please have the legal heir of the estate contact our office to have paperwork reissued in their name.

Capital credits are just one benefit of your membership in an electric cooperative. As a not-for-profit, whenever the cooperative has margins that exceed operating expenses, those margins are returned to the membership receiving service in those years. Instead of the traditional business model in which stockholders and corporate bigwigs benefit from business profits, it is you, the member-owner, that benefits from being a part of our business. We are proud to be able to return these funds to our dedicated members.