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  • Reconnection of service, except outages, will only occur  M-F 8am-4:00pm. 
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Capital Credits

 

 

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.

 

 

 

At this time we are not currently issuing 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 or you can contact us at 260-726-7121 to confirm whether or not you are eligible for capital credits.

What years will be returned this cycle?

The most recent cycle of capital credits were from 1969 through 1973. That cycle of capital credits has ended. Please check back for any updates on future capital credit pay outs.

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 fill out the Natural Deceased Person form found below and return to our office at 484 S 200 W Portland, IN 47371.

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.

Business Entity Form

When to use this Application: This Application is to be used when Jay County Rural Electric Membership Corporation (the "Cooperative") has allocated and/or retired capital credits to a former business or entity member that no longer exists under Indiana law (the "Entity"). Examples of entities are corporations, limited liability companies and unincorporated associations, like partnerships.

Complete this form as soon as possible once the Entity is no longer in existence (so that in the future, any retired capital credits will automatically be paid to the correct person or entity). This form also can be used if Cooperative has issued a payment check for retired capital credits to the Entity. In that eve, the proper successor in interest, beneficiary, or person authorized to collect and distrubte the payment will fill out this Application so the payment check can be reissued to the proper successor in interest/beneficiary/recipient.

Who can submit this application: The person (or entity) submitting this Application (the "Applicant") must be:

A. Entitled to assume Entity's capital credit account and receive payment of the Entity's retired capital credits;

B. The Individual (or entity) authorized by all such proper recipients to receive payment of the Entity's retired capital credits; or

C. Authorized by the Entity to submit this Application

Deceased Natural Person

When to use this Application: This application is to be used when Jay County Rural Electric Membership Corporation (the "Cooperative") has allocated and/or retired capital credits to a natural person who is deceased.

 

Who can submit this application: The person (or entity) submitting this Application (the "Applicant") must have the legal standing to assume the deceased's capital credit account and receive payment of the deceased's retired capital credits.

Capital Credit Claim Form for Inactive Member

Capital Credit Claim Forms are to be used for people who were members during the claim years (1969-1973) but are no longer members today.

Business Entity Form

Jay County REMC - Assignment of Capital Credit Account of Business Entity - FORM_1.DOCX

Deceased Natural Person Form

Jay County REMC - Assignment of Capital Credit Account of Deceased Natural Person - FORM without last page.docx

Capital Credit Claim Form for Inactive Members

Capital Credit Claim Form for Inactive Members_1.docx

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

 

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©2022 Jay County REMC. A Touchstone Energy Cooperative

  • Home
  • About Us
    • Location, Hours, and Contact Information
    • 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
    • Coops Vote
    • Filter Change
    • Touchstone Energy Camp
    • Wifi Thermostat Program
    • Youth Tour 2020
    • Indiana 811
  • My Community
    • Community
    • EEK (Electrical Education for Kids)
    • Energy Tips
    • What is Energy
  • Safety
    • Farm Safety
    • Kids Safety
    • Safety Practices
    • Storm Preparation
    • Drone Safety
  • Dolly Parton's Imagination Library