One of the benefits of being a member is patronage capital credits. Patronage capital credits come from margins, or money left over at the end of the year after all operating costs and expenses have been paid. These margins are allocated to each member’s capital credit account based on how much electricity the member purchased that year.
Each year the Board of Directors determines if the Cooperative is financially able to pay prior years’ capital credits back to the members. When so approved, the Cooperative refunds designated prior year’s capital credits to the members who used electricity during the designated years.
Even if you move and are no longer a member of the Cooperative, the capital credits remain in your account. Be sure to update your mailing address with Daviess-Martin County REMC if you move so we can send future capital credit checks to the correct address.
There is an extensive amount of unclaimed capital credits and the REMC is taking steps to distribute capital credits to individuals who were members of the cooperative for the years specified as 2011 through 2019.
Interested individuals should review the Unclaimed Capital Credits list and call the REMC office during normal weekday business hours at 1-800-762-7362 to gather details on the owner’s name and amount of owner’s interest. A request for retirement of capital credits will need to be filled out in the Claim Form link.
If said credits are not duly claimed within sixty (60) days between 9/1/2021 – 10/31/2021, the sum owing by the cooperative to any member shall be treated as donated cash. Current active members will receive a bill credit for unclaimed prior years retirement amounts after the 60 day period.
Check for your name or business in the Unclaimed Capital Credits link below. Fill out the Claim Form in the link below to claim your capital credit.
For the most up-to-date outage information, click below or view in SmartHub.
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Anyone who receives power from Daviess-Martin County REMC is part owner of the business. Daviess-Martin County REMC is one of 38 rural electric cooperatives in Indiana. Electric cooperatives were organized throughout the state in the 1930s. At that time, investor-owned utilities were supplying power in urban areas but would not supply electric power to rural customers. This was common across the country at this time in history. People living in rural areas saw that those in cities had electricity and wanted it as well. As a result, with loans from the Rural Electrification Administration, rural communities banded together and created electric cooperatives.