Unclaimed Capital Credits good for JREC customers

The Jump River Electric Cooperative (JREC) board of directors, has approved the 2024 general retirement (return) of Capital Credits. These credits represent how JREC members share in the cooperative’s financial success and operation as a member-owned, not-for-profit entity.

These credits are a unique benefit of being served by an electric cooperative.

Capital Credits are the most significant source of equity for most cooperatives, required by lenders. Unlike dividends paid by investor-owned utilities to shareholders (who may or may not receive service from the utility), cooperative “dividends” are returned to member-owners.

JREC tracks each member’s electricity purchases and the patronage revenue they generate. At year-end, any excess revenue, known as margins, is allocated to members, based on their electricity use.

Before approving the Capital Credit return, Jump River’s nine-member board of directors carefully reviewed various data and economic conditions. They decided to return $373,403 in Capital Credits to active and former members. Since 1955, approximately $11.5 million in Capital Credits has been returned to JREC members, demonstrating the value of co-op membership.

Current members entitled to a return will see a credit on their November bill. Former members will receive a check by the end of November, with a minimum return amount of $10.

Members with questions about Capital Credits can call the cooperative. More information and a list of names with unclaimed Capital Credits, are available at jrec.com.