There are so many benefits that come with your co-op membership, but one of the main benefits is capital credits.
What are capital credits, you ask? At the end of each year, T.I.P. R.E.C. calculates its margins, which is the amount by which our income exceeded our expenses during the year. We then allocate those margins as “Capital Credits” to each member-owner based on the amount of electricity they purchased throughout the year. When your Board of Directors determines it is financially feasible and prudent, and when we have met the financial requirements stated in our loan documents, we retire those capital credits in the form of a bill credit to active member-owners. If you are no longer a member you will receive a check. To help save on the expense of writing small checks, your Board of Directors approved a policy that states that any amount under ten dollars ($10) will be held and added to subsequent year’s retirements until the amount is above ten dollars ($10) or it is the last payment that will be made to that member.
In the interim, we use the allocated but unretired capital credits to improve and expand our electric system and meet our other capital needs. This reduces our need to borrow money and helps us provide reliable electric service.
Check out the lists below to help us locate anyone that we have been unable to find. If you find someone that you know, contact him or her and have them call T.I.P. at 800-934-7976 with a current address. If the listed person is deceased, call us with information about an heir whom we can contact.
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