Scenic Rivers Energy Cooperative is operated on a not-for-profit basis. Because we are "owned by those we serve," Scenic Rivers Energy has always been service-driven. We are not motivated by the potential for profits. Electric cooperatives, unlike investor-owned utilities, do not have stockholders that must be paid a return. In other words, the price to obtain services and products from the cooperative are cost based and are kept as low as possible.
Of course, in order to be fiscally responsible in its operation, the cooperative needs working capital and a cushion of "margins." The margins will be distributed later through our system of Capital Credits.
Each member in the cooperative is assigned an individual Capital Credit account. At year end, any margin is divided among the members according to their patronage with the cooperative. You will receive a notice of your Capital Credit allocation each year.
Scenic Rivers Energy Cooperative is currently refunding on a percentage basis. Your total allocations are multiplied by the percentage that the Board of Directors decides on. For active members, this amount is applied to the bill in October of each year. Inactive members receive a check in the mail. If the check is less than $10.00 we will not issue it. This amount is recorded and added to the following year until the refund is at least $10.00.
Keep Your Address Current
As you can imagine, maintaining address files is a tremendous undertaking. Each year, there are many former members for whom we cannot find a current address. Each year we seek your assistance in keeping our files up-to-date, so these members can receive the Capital Credit to which they are entitled. If we are unable to locate these individuals or their heirs, the Capital Credit allocation will be donated to Federated Youth Foundation, which is a nonprofit organization. This money is then used to make contributions to hospitals, fire and rescue departments, farm safety programs, and various other organizations in our community.
If you have any questions, please contact Carrie at 800-236-2141 ext. 556.
|Application for Capital Credits||89.04 KB|