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As COVID-19 distancing recommendations remain unchanged, members are encouraged to conduct co-op business through the SmartHub app, phone, mail, or night deposit box. If you are experiencing financial hardship, please contact our office to make payment arrangements.

 

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RECC Equity Rotation was Paid as a Bill Credit!

Rural Electric Convenience Cooperative (RECC) directors approved the rotation/retirement of $349,422.86 in capital credit equity. All current and former member/owners, who received electric service and contributed to margins in 1985, 1986, 1987 or 1988 were repaid. As an active member, you will see a “Capital Credit Refund” on your December bill, which was mailed out early in January 2021. Capital credit equity comes from the cooperative’s margins, which amounts to the difference between the money we collect during the year minus our operating expenses. Until it’s repaid to members, the equity is used to finance new construction and
system improvements. RECC has returned over $4 million in member equity since 1978.  A key difference between electric cooperatives and investor owned utilities are capital credits. An investor-owned utility returns
a portion of their profits to shareholders. But, RECC allocates 100 percent of our margins to the members, who purchase electricity during the year. Estates of deceased members can continue receiving capital credit  retirements or choose a discounted capital credit equity payout to close out a membership account. Please let us know if you have any questions about your capital credit account. Thank you for your past purchases from  RECC!