The allocation of 2016 margins to members doing business with Rural Electric Convenience Cooperative have been calculated and assigned. The total of $233,073 of 2016 margins were allocated as capital credits. We have calculated each member’s share of the total margins based on members use of electricity in 2016. That amount has been credited to your capital credit account.
The allocations will be on your July bill, which will be mailed on or about August 7th. You will see a message on the left-hand side of the bill indicating the amount that was allocated to your capital credit account for the electricity you purchased in 2016. This message only appears on your master account and only appears if you were a customer in 2016. This amount is only an accounting credit. It cannot be claimed at the present time nor can it be applied against your current electric bill. Your board of directors reviews the financial condition of the Cooperative before determining when and how much capital credits can be returned or retired to the members.
Remember, you must be a member and have service in your name to have capital credits allocated to you. If you are receiving electric service in someone else’s membership or the service is in the name of a deceased person, you will not receive capital credits. Any capital credit retirements will be issued in the name of the person on the membership or the estate of a deceased member.