News & Events
Capital Credit Information
In the July issue of the Electric Consumer magazine, information was provided on what capital credits are and how members of Warren County REMC receive them. To summarize, in any given year excess operating revenue, called margins, are allocated to each member account based on the amount of electricity purchased. This allocated capital is then retired by the Warren County REMC board of directors when it is determined the financial condition of WCREMC will not be impaired. Our power supplier, Wabash Valley Power Association, also retires capital credits to Warren County REMC to pass on to our members. We are now preparing to pay out those retired capital credits from Wabash Valley Power Association for the years 1982, 1983, 1985, 1994 and 1995 in 2016 as authorized by our board of directors.
If you were an accountholder during the years specified, and have no changes to your personal or business information, you will be receiving your capital credits payment in a few months. If personal or business information changes have occurred, Warren County REMC must be notified of these changes. Keep in mind that the capital credits currently being paid are associated with the persons or business as they existed during the years specified. To receive your capital credits pay out in your current personal or business name or address, you may be required to provide appropriate legal documentation to associate current information to the outdated account information. Additional information of specific situations and the legal documentation required to receive your capital credits will be provided in future Electric Consumer issues. It will soon be available on our website: www.wcremc.com. You may also obtain information by calling the office 765-765-6114, toll free 1-844-224-0710, or visit the office at 15 Midway Street, Williamsport. We are open 7:30a.m. to 4:00p.m., Monday - Friday.
Take Control of Your Electric Account with SmartHub
You may have heard about SmartHub, Warren County REMC’s new innovative tool for account management, but what can it do for you? SmartHub can help you take control of your electricity and your WCREMC account like never before.
SmartHub has several features that make managing your account as easy as possible. Whether through the web, or your smartphone or tablet (Android or iOS), you’ll be able to pay your bill, view your electricity use, contact customer service and much more.
As soon as you log in, you’ll be able to view your billing history and make a payment with just a couple of clicks…or taps, if you’re using the app! You’ll be able to see your current bill, along with bills from the previous month or even the previous summer, if you want to compare costs. Not only will you see your billing history, but you’ll be able to view your actual electricity use. You can see how your use is trending over time, which will allow you to take steps to reduce your consumption and lower your bill.
Making payments through SmartHub is fast and easy. The first time you make a payment either through the Web or through your mobile device, you’ll be able to securely store your payment information for future transactions. The next time you need to pay your bill, it will only take a couple of clicks.
You’ll also be able to manage your account notifications with SmartHub. By logging in to SmartHub on the Web, you’ll be able to select how you want to be notified about your bill, including email and text messaging. You’ll even be able to set usage thresholds so that you’ll know when you’re using more than you’d like and help you keep your electricity bill as low as possible.
If you do need to drop off a payment or stop by our office, SmartHub can help you there as well. Use SmartHub’s map feature on your GPS-enabled mobile device to find the closest branch or office location.
Want to get the latest news and information from WCREMC? Stay connected with us through SmartHub. With the SmartHub news feed, you’ll get the latest news, updates and more from WCREMC, all without leaving the app or the web page. Access SmartHub by visiting www.wcremc.com or by downloading the app on your mobile device through the Apple App Store (iPhone or iPad) or Google Play Marketplace (Android phone or tablet).
Capital Credit Distribution
Warren County Rural Electrical Membership Cooperation, WCREMC, has been providing its customers with affordable electrical power since 1937. Being a Cooperative, we are owned by our customers/members, and technically don’t earn profits in the sense of an investor-owned utility company. When in any given year revenues exceed the cost of doing business, the excess is termed “earned margins”. WCREMC members are then allocated a portion of these margins in direct proportion to the amount of electricity purchased by each member during that year, called capital credits. Receiving capital credits reflect members’ ownership in the co-op and is one of the benefits of being served by a non-profit utility co-op. Once these capital credits are assigned/allocated, they are retained by the co-op for a period of time determined by our Board of Directors, and used as capital to defray operating costs. This helps to keep rates at an affordable level by reducing the amount of funds that would be borrowed to purchase equipment and maintain and improve our current electric system. The WCREMC Board of Directors can authorize the retirement, cash back payment, of capital credits of a given year based on the financial need of the co-op.
Capital credits are allocated to any account holder who was a co-op member in the specified retirement year, even if they are no longer a customer/ member. Procedures will be in place to attempt to contact all members at their last known address. It is imperative that all members keep an accurate address on file with us, so we may issue current capital credit payments, and any that may be retired in the future. Additional capital credit information will be provided at a future date.