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  • Reconnection of service, other than outages, will only occur during office hours of M-F 8am-4:30pm. 
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Capital Credits

Capital Credits for you!

Because Jay County REMC is a coop­erative, owned by its members, it does not technically earn profits. Instead, any revenues over and above the cost of do­ing business are considered “margins.” These margins represent an interest-free loan of operating capital by the mem­bership to the cooperative. This capital allows Jay County REMC to finance operations and — to a certain extent — construction, with the intent that this capital will be repaid in later years.

 

As a cooperative member, you have the unique opportunity to be an own­er-member in our business. Each year, we take all remaining margins and hold them aside to return to our members. These margins are called capital credits. The capital credits distributed to each member are determined by the electric use on his or her account for the specif­ic year being returned.

Q&A

All about capital credits


Why aren't capital credits paid back immediately?

Paying back capital credits immedi­ately is not ideal, because we want to keep our focus on maintaining a safe and reliable system. By keeping capital credits in the cooperative’s financials for a period of time, we are able to do necessary system maintenance and construction. As the board of directors review our financials each year, board members determine when those capital credits can be returned to members.

Does a member have to do anything to start accumulating capital credits?

Capital credits are calculated by Jay County REMC for everyone who pur­chased electricity during a year in which the utility earned margins. No special action is required to start a capital credits account. Membership with Jay County REMC activates a capital credits account.

How are capital credits calculated?

The amount of capital credits earned in a given year is based upon the amount of capital contributed through pay­ment of your monthly bills. The more electric service purchased, the greater the capital credits account —although the percentage will remain the same. The sum of monthly bills for a year is multiplied by a percentage to determine capital credits.

How will I know if I am eligible for a capital credit refund?

If you were or are a member of the Jay County REMC and are eligible for a capital credit refund, you will receive a letter in the mail.

What years will be returned this cycle?

All of the credits earned by members of the Jay County REMC through the years 1969, 1970, 1971, 1972 and 1973.

If I am an heir, how do I make a claim?

If the member named on the account is deceased, an authorized heir may claim the credit. Simply contact our office at 260-726-7121 or 800-835-7362 and re­quest the capital credit form. If an estate is still active, the executor may com­plete the paperwork. The form will need to be notarized and returned. Payments will be processed each month and mailed to you based on the information provided.
 

It is illegal to have an account in the name of a person (or persons) that is deceased, so your help in updating our records is appreciated. Please direct any questions to Becky Napert, Jay County REMC business manager, 260-726-7121 or 800-835-7362.

Exhibit A

This form will be need to be filled out and notarized along with the Affidavit of Closed Estate form and the Affidavit for Transfer form.  If the estate is Open or Active we will need the certified estate letters along with a notarized Exhibit A.

Affidavit of Closed Estate

Affidavit of Closed Estate form is for closed estates that were over the amount of $50,000.  This form will need to be filled out along with the Exhibit A form.  Both forms will need to be notarized before returning them to the REMC.

Affidavit for Transfer

Affidavit for Transfer form is for estates that have been closed and were under $50,000, or if no estate was created or if there was a Will.  This form will need to be filled out along with the Exhibit A form and notarized before returning to the REMC.

Capital Credit Claim

Capital Credit Claim form is for living inactive members whose address is incorrect in our system.  This form will need to be filled out and returned to the REMC. 

Heirship Affidavit

If you are not a direct heir of the deceased member, but you are an heir of an heir of the deceased member, then you will need to fill out an Heirship Affidavit showing each level of heirship.  Each Heirship Affidavit will need to be filled out and notarized before returning it to the REMC.

Exhibit A Form

ExhitbitA.pdf

Affidavit of Closed Estate Form

AffidavitClosedEstate-ExhibitA.pdf

Affidavit for Transfer Form

AffidavitTransfer-ExhibitA.pdf

Capital Credit Claim Form

CC-Inactive.pdf

Heirship Affidavit Form

HeirshipAffidavit.pdf

Information on this website is subject to change without prior notice.

 

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©2021 Jay County REMC. A Touchstone Energy Cooperative

  • Home
  • About Us
    • Office Location
    • Board of Directors
    • Our History
    • Touchstone Energy
    • Bylaws
    • Service Area
  • Members
    • 7 Cooperative Principles
    • Annual Meeting
    • Authorization to Release Account Information
    • Billing Information
    • Capital Credits
    • Electric Vehicle Information and Calculator
    • Energy Audit
    • Indiana Connection
    • Member Information
    • Rates and Fees
    • Single or Joint Membership Form
    • Medical Certification Form
  • My Co-op
    • Coop Connections Card
    • Rebates
      • Heat Pump Rebate
      • Water Heater Rebate
    • Student Art Contest
    • Together We Save
    • Annual Meeting Updates
    • Coops Vote
    • Filter Change
    • Touchstone Energy Camp
    • Youth Tour 2020
    • Indiana 811
  • My Community
    • Community
    • Electrical Education for Kids
    • Energy Tips
    • What is Energy
  • Safety
    • Farm Safety
    • Kids Safety
    • Monthly Safety Tip
    • Safety Practices
    • Storm Preparation