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What are Capital Credits?
The Cooperative pays the bills for things like power generation, maintenance and operations. They money left over after those bills are paid each year is called a margin. Margins provide equity for the Cooperative and are assigned to you -the members- through capital credits.
What’s the difference between assigning and paying capital credits?
Each year, capital credits are assigned to each member and recorded in the books of the cooperative. Capital credits are paid to members after the Board determines that the financial condition of the cooperative will not be impaired thereby. Capital credits may be paid in full or in part, and the manner, method and timing is determined by the Board.
Why did I receive a capital credits payment?
Our records indicate that you are eligible to receive the capital credits because you had service in the years that were being paid.
I didn’t think electric cooperatives were supposed to make a “profit”.
We are required by our lending institutions to meet certain financial requirements to show that the cooperative is financially stable. However, all margins are assigned back to our membership.
Is my capital credit assignment/ payment taxable?
We suggest that you seek the advice of a tax professional for any specific questions regarding taxation.
How did you determine the amount of my capital credit payment?
This capital credit payment represents your share of capital credits paid.
When will 100 percent of the capital credits assigned to me be paid?
Each year the decision to pay capital credits is made based on the financial stability of the cooperative. The Board, in its sound discretion, selects the manner, method and timing of capital credit payments.
What impact will this capital credit payment have on my electric bill?
The payment of capital credits does impact the finances of the cooperative and may impact future electric rates.
What if I want to donate my capital credit payment to Operation Round Up?
If you would like to donate your capital credit payment to Operation Round Up, WRVEC’s member-funded program that provides financial assistance to community organizations, individuals in crisis situations and college scholarships, simply contact WRVEC and we will accommodate that request.
How may I contact WRVEC to speak with someone about this matter?
To view forms from WRVEC, you will need Adobe reader. You can download it here.