You may have seen or read about “capital credits” in the past, 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 LaGrange County 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 25 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 1995 and 2018. Totaling nearly three-quarters of a million dollars — $734,237 to be exact — the amount each member receives is based on how much power the member used in those years.
So, what should you expect?
- If the disbursement is less than $50, current members will see the amount credited directly to their December bill.
- If the amount is greater than $50, current members will receive a check.
- Former members will receive a check if the amount is $5 or more. (Capital credits will accumulate over time and be returned when the balance reaches the $5 threshold.)
While a nice bonus in your pocket, what’s more important is that this cash back shows LaGrange County 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.