What is a capital credit?

A capital credit is your portion of patronage in our company. Since we are a not-for-profit entity, any profits we make (referred to as margins) are returned to you, the member, in a portion of what you paid for the year.

What are unclaimed capital credits?

Unclaimed capital credits are checks for former or current members that have not been cashed. A list is published to notify those members that they have unclaimed funds.

How are capital credits calculated?

The amount of capital credits you earn in a given year is based upon the amount of capital you contribute to the co-op through payment of your monthly bills. The more electric service you purchase, the greater your capital credit account. The sum of your monthly bills for a year is multiplied by a percentage to determine your capital credits.

What is the difference between allocated and retired capital credits?

Allocated capital credits appear as an entry on the permanent financial records of the co-op and reflect your equity or ownership in Marshall County REMC. When capital credits are retired, a check or bill credit is issued to you, and your equity in the co-op is reduced.

What percentage of my bill is allocated to capital credits?

The percentage of your total payment allocated as capital credits varies from year to year, depending upon the amount of profits recognized on the REMC’s income statement. Capital credits are only allocated for a year in which the REMC had a profit. Since capital credits are a member’s share of the profits, no credits are allocated for a year without any profit.

How do I get my money?

Capital credits are not retired all at once. Our board reviews our financial situation and allocates a certain amount of money to be “retired” each year, sometimes twice annually. Current members with active accounts will see their capital credits applied as a bill credit. Inactive members will receive a check in the mail to the last known address we have on file. Any checks that are not cashed or claimed within three years will be published in an escheat listing in an attempt to find the person; if not claimed within 60 days of that publication, the checks are then considered a gift to Marshall County REMC.

What do I do if checks are written to a deceased person?

The rightful heir or executor of the estate should contact the office to claim the funds. They will need to fill out some paperwork to do so.

What years have been declared for 2024?

Any member on the line (with REMC service) during the years 1966-1970.