An Update on Capital Credits
Warren County Rural Electric Membership Corporation has been providing our customers with affordable electrical power since 1937. Each of our customers is a member of Warren County REMC, earning capital credits on his/her account with us annually, based upon the amount of electricity purchased throughout the year. Capital credits are one of the customer benefits of being served by a cooperative.
Disbursement of earned capital credits is determined by the board of directors, based on the amount of funds available for a given year and the financial need of the co-op. The capital credits are allocated to any accountholder in a specified retirement year, even if they are no longer a customer on our lines.
Recent disbursements of capital credits began in December 2016. At that time, $473,997.84 in capital credits were retired, with approximately 94 percent ($445,557.97) of that amount claimed by our accountholders. In July 2017, capital credits of $255,226.20 were retired, with approximately 93 percent ($237,360.37) claimed by our customers for the years specified. Our most recent and most ambitious disbursement, in April of this year, was to those accountholders from 1948 to 1960.
We retired capital credits in the amount of $777,197.37, with 57 percent ($443,002.50) claimed by customers or their families from those years. As you can see, we have been busy! Be sure to check the unclaimed list for any unclaimed capital credits for you or your family.
We at Warren County REMC are proud of our heritage, providing safe and economical electrical service to our customers through the years. We are pleased to have the financial stability to pay capital credits to our patrons past and present. As we contemplate the future, we look forward to continuing to provide you with quality service and disbursing capital credit payments so you can appreciate the benefits of being a member of Warren County REMC.
Warren County REMC will soon reallocate the capital credits designated for retirement in December 2016. That capital will now be reissued to REMC members’ accounts in future capital credit disbursements. The 2016 issuance of capital credits was for the generation & transmission capital from the Wabash Valley Power Association for the years 1982, 1983, 1985, 1994, & 65% of 1995. Our Policy states that capital credits not claimed within 2 years of the first check issuance date are to be returned to the general fund for reallocation in future capital credit disbursements. No payments for the December 2016 disbursement will be issued after December 21, 2018. Click here for a list of unclaimed patronage.
Feel great by donating your capital credits
Warren County REMC is pleased to announce we have completed our fourth round of capital credit disbursements. Many of our past and current customers have received their capital credits as a check or as a credit to their current electric bill. The most recent capital credits were accrued from the active REMC accounts during 1948 to 1960, the majority of recipients receiving capital credits from their parents, grandparents, great grandparents!
Perhaps you've been contacted to be the capital credit agent on the account, but don't want to deal with the procedure of completing forms or providing required information. We would like to suggest an alternative for you to consider concerning your capital credits.
Some of our accountholders have opted to generously return their capital credit amounts back to Warren County REMC to be donated, at our discretion, to a charitable cause. Through these members' support, we have chosen to assist those customers enduring hardship with a payment to their electric bill. These customers are diligently attempting to maintain their accounts in good standing, while dealing with devastating financial burden due to traumatic and overwhelming circumstances.
Please consider taking a few minutes to help ease the financial burden of one fortunate by completing a donation affidavit. As some of our fellow co-op members experience difficult times, we want them to know they have the support of the Warren County REMC community.