It pays to be a part of Steuben County REMC

Posted on Dec 06 2022 in Steuben County REMC
Man holding cash

That’s why members whose accounts were active in 2010 will see reduced bills for current accounts or checks this fall as we return $113,000 to you, the members.

As part of our capital credit retirement, members whose accounts were active from 2010 and have a current active account will see a bill credit on their statements in late November or early December. That means no more checks getting lost in the mail, no more trips to the bank, no more lost or forgotten checks; just money in your pocket. 

Member accounts that were active in 2010 and are now inactive will still receive checks in the mail.   

As a not-for-profit electric utility, we operate differently than investor-owned utilities that generate profits for shareholders. Instead, we operate on an at-cost basis for our member-owners, so when we succeed, you succeed. Once the board has established a sound financial position, any profits (referred to as “margins”) over and above budget are returned to the members in a portion of what they paid for electric service that year. 

So, this fall, patronage capital will be returned to members in the amount of $113,000. 

Thank you for your patronage and helping the cooperative thrive. Enjoy this perk of membership that literally  is putting money back into your pocket!