CAPITAL CREDITS RETIREMENT CHECKS
Warren County REMC is pleased to announce that the capital credit disbursement process will soon begin. Starting January 11th, Warren County REMC accountholders will be receiving a check reflecting their portion of retired capital credits from our power supplier, Wabash Valley Power Association.
These capital credits from years 1982, 1983, 1985, 1994 and a portion of 1995 total approximately $450,000.
When revenue exceeds operating expenses in any given year, the excess is termed earned margins. Each account holder is allocated a portion of these margins in direct proportion to the amount of electricity purchased. The more a member invested into the coop, which means that member's amount of capital credits will be greater than a member who purchased less electricity. As a non-profit member-owned coop, Warren County REMC works for its members not shareholders. The capital credit check reflects membership in Warren County REMC and is one of the benefits of being served by a non-profit utility coop. The Warren County REMC Board of Directors has authorized the payment of capital credits at this time to assure that rates are kept at an affordable level, and the financial impact to Warren County REMC will be kept to a minimum.
Capital credit retirements of $20.00 or more will be mailed as checks. Members with accrued capital credits less than $20.00 will not receive a check until their retired capital credits reach $20.00. Capital credits of inactive members with bad debts on their inactive accounts will be applied to their outstanding debt. This will also apply to those inactive members with past due bills.
Upon receipt of the capital credit check, review the information on it closely. The recipient information should be issued in the accountholder's current personal or business name of the agent responsible for the disbursement of capital credits for the accountholder. We have several inactive members who no longer belong to our coop and have incorrect addresses on file. Warren county REMC will post listings of these members so they may claim their capital credits. Any discrepancies on the capital credit checks should be reported to the Warren County REMC office, as procedures are in place to amend accountholder information and re-issue a check with the provided updates. Procedures are also in place for distribution of capital credits to deceased accountholder's legal heirs.
For additional information,
Call Warren County REMC at 765-762-6114 or 1-844-224-0710
Office hours are Monday - Friday 7:30 a.m. to 4:00 p.m.