What is a capital credit?

Posted on Nov 27 2017 in Steuben County REMC

Members that were part of our cooperative in 1986 will receive capital credit checks this month as part of our patronage capital retirement. But what do all of those fancy words mean?

Steuben County REMC is a not-for-profit organization, meaning that any money collected that is over-and-above our budget needs is allocated as patronage and invested in the cooperative. On an annual basis, our board reviews our financial position and decides if this patronage can be returned to the membership in the form of a capital credit retirement.

This year’s retirement was from 1986. So, if you were a member in 1986, your name was on the account, and you paid your bills, you will receive a portion of what you paid into the co-op that year. That’s the beauty of being a co-op member!

If you have questions about your capital credits, please contact the office at 260-665-3563.