Search Unclaimed Capital Credits
Members of Warren County REMC enjoy several benefits that customers of other types of electric utilities don’t get to experience. One special benefit is receiving patronage capital.
Capital credits are our member’s share of the REMC’s margins for a year in which revenues exceeded expenses. The amount of capital credits a member receives is in proportion to the amount of energy purchased during that year. Capital credit disbursements are determined and approved by the Warren County REMC Board of Directors.
Unclaimed patronage capital awaits former members
Warren County REMC is attempting to locate former members who have unclaimed patronage capital awaiting them. If you recognize any of the names on the list, please contact that person or his immediate family and ask him/her to contact Warren County REMC directly at (844) 224-0710 or (765) 762-6114 or visit us at 15 Midway Street, Williamsport, IN 47993, Monday – Friday 7:30 a.m. to 4:00 p.m. Legal documents may be required for decedents’ accounts or accounts listed in a different name. Agent-approved forms, along with a current driver’s license, may also be required before funds are disbursed. Your assistance is greatly appreciated.
Early Retirement and Distribution of Discounted Patronage for Estates
What is discounting?
Discounted capital credits refer to a financial concept where the future value of a credit or payment is reduced to its present value by applying a discount rate. Capital credits are typically issued by cooperatives or member-owned organizations to allocate profits back to their members based on their patronage or usage of the cooperative’s services.
By discounting these future credits, the cooperative can calculate their present worth and provide members with a lump-sum payment instead of waiting for the full amount to accumulate over time. The discount rate used is based on a 30-year retirement cycle and a discount rate equal to the current 30-Year United Stated Federal Treasury rate reported on July 1 each year plus a 2% risk factor as determined at the beginning of each calendar year . This allows members to receive funds earlier and helps the cooperative manage its finances more efficiently.
If you are interested in early retirement for an estate please contact the office at 844-224-0710.
Donate Your Capital Credits
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 the required information. We would like to suggest an alternative for you to consider concerning your capital credits.
Some of our account holders 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 burdens due to traumatic and overwhelming circumstances.
Please consider taking a few minutes to help ease the financial burden of someone less 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.