Many members simply refer to it as “the REMC check,” however, the annual disbursement of capital credits is one of the most tangible benefits to being a member of Noble REMC.
It’s also the basis of one of our most important cooperative principles — members’ economic participation, which outlines that members contribute equally to, and democratically control, the capital of their cooperative.
Simply put: You are our owners, and once expenses are paid and some is saved for contingencies, what money remains — known as margins — is allocated back to you as capital credits.
This cash back is given over time, with disbursements benefiting members from as far back as 30 years ago to as recent as last year.
The decision to refund capital credits is made by your elected board of directors, which must consider whether such a distribution would impact the co-op’s financial state, as well as if it complies with our bylaws and loan agreements.
Those receiving cash back this year include members from 1992, 1993 and 2021. Totaling $726,392, the amount each member receives is based on how much power the member used in those years.
So, how will you receive your cash back?
Current and former members will receive a check for the amount allocated to them.
But as many of you know, processing printed checks can become costly. For this reason, 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 capital credits will accumulate over time and be returned when the balance reaches at least $10.
While it’s a nice bonus in your pocket, what’s more important is that this cash back shows Noble REMC’s strength and financial stability, and it serves as a reminder that you hold us accountable.
We don’t answer to shareholders; we serve you, our members.