If you receive electricity from Singing River Electric Cooperative, you are a member, not just a consumer. And membership has its privileges. One such privilege is capital credits.
We recently mailed letters to former members of the cooperative, who no longer receive electricity from Singing River Electric, and have unclaimed capital credits. If you received one of these letters and it was not addressed to you, write RETURN TO SENDER on the outside of the envelope and leave it in the mailbox. It will be returned to us.
All Singing River Electric capital credits information and application forms are located at singingriver.com. Here is some additional information about capital credits and unclaimed capital credits:
What are capital credits?
Singing River Electric’s rate revenue is used to operate, make payments on loans and make improvements to the electrical system. Any remaining revenue is allocated to the members in the form of capital credits.
How do members earn capital credits?
When you signed up for electrical service from the cooperative, you became a member. Each member is allocated capital credits based on their purchases from the cooperative in a calendar year.
How and when are capital credits returned?
- Each year the board of directors decides whether to retire capital credits. There may be years when the cooperative is not able to distribute capital credits because of certain economic conditions and other factors such as major storm damage.
- Capital credits are returned each year in December thru March either by check mailed to members, or in the form of a credit on the electric bill.
- Singing River Electric Cooperative retired capital credits to members in 2017 for the year 1986.
How do you apply for capital credits?
If capital credits were due to you from the year 1986, and your account was still active, there was no need for action. You automatically received either a bill credit or check this past December 2017, depending on the credit amount.
What happens to a members’ capital credits if the member moves away?
Capital credits are maintained on record and can still be returned to a member when those credits are retired by the local board of directors. Members who move away may download paperwork from singingriver.com to request capital credits if they were members during the years being retired.
Can I obtain a deceased member’s capital credits?
Yes. Surviving family members may download paperwork from singingriver.com to request capital credits for a deceased relative.
How do you apply for unclaimed capital credits?
If you are applying for capital credits for yourself and the account is inactive, you need to fill out a Request for Capital Credits or a Business Request for Capital Credits form. If you are applying for capital credits on behalf of a deceased relative, complete and return the Request for Capital Credits form and the Capital Credit Application Affidavit.
Can SRE just donate my capital credits to charity?
At this time, there is not a way for SRE to donate your capital credits on your behalf.
If you have questions or wish to start the unclaimed capital credit process by phone, call 601-947-4211, extension 2056 or 2057. Phone lines are busy. Thank you for your patience.