Capital credits coming to a mailbox near you

Posted on Oct 29 2018 in Steuben County REMC

Members, were you a part of our cooperative in 1986 or 1987? If so, be on the lookout for your capital credit check coming in late November/early December. The board has approved approximately $313,000 to be returned to our members receiving service in 1986–87 as part of our capital credit retirement. Each member receiving service at that time will receive the remaining payment in full for that year.

If checks are received for members no longer living, please have the legal heir of the estate contact our office to fill out paperwork to have checks 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 big-wigs 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.