Operating at cost is part of the cooperative difference.
When you signed up for electric service with HCREMC, you became a member of a non-profit electric cooperative. As a non-profit cooperative, HCREMC does not technically earn profits. Instead, any revenues left over after covering our operating expenses are allocated back to our members. These allocations are called capital credits.
Annually, the HCREMC board of directors evaluates the financial position of the cooperative and determines whether to pay back capital credits (generally the third quarter of the year). Then the board determines which capital credits from what year(s) will be refunded.
In August 2021, your REMC plans to retire capital credits for the years 1989 and 1990. Member-consumers with an active account will receive a credit on their bill, while inactive account holders will be mailed a check to the last billing address we have on file. Use the name search feature below to see if you are eligible to receive capital credits this year.
You received a check. What happens if:
Simply write "return to sender" on the outside of the envelope, and it will be returned to HCREMC. Writing on the check that this person does not live at this address will direct us to update that account.
The check can be written in the heir's name once the proper paperwork is on file with HCREMC. Please contact us at 800.248.8413. You will need to fill out the proper paperwork. The heir will need a valid driver's license and the original death certificate of the deceased.
Banks will not cash checks if they are in the name of a deceased individual. Please contact our office at 800.248.8413 to fill out a capital credit request form. You will need a valid driver's license and the original death certificate of the deceased party.
If an account is in a deceased person's name, you must transfer the service to the new homeowner or tenant to continue service. Call our office at 800.248.8413 to transfer the electric account and we will rewrite the check.