Patronage (Capital Credits)
Patronage Dividends
There are so many benefits that come with co-op membership, but perhaps one of the best 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 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 members-owners. If you are no longer a member you will receive a check. To help save on the expense of writing small checks, last year 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-consumer.
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 help us provide reliable electric service.
Check out the lists below and help us locate anyone on the list that we have been unable to find. If you find someone that you know, call him or her or call T.I.P. with an address. If the listed person is deceased, call us with information about an heir whom we can contact.
2019 Unclaimed Patronage Payment List for 40% 2002, 75% of 2003 and 10% of 2018
Call us at 800-934-7976 or contact us with any questions.
