There are many benefits of being a member of an electric cooperative. One benefit is the retirement of capital credits. Singing River Electric Cooperative’s board of directors approved a retirement this year of more than $4.2 million in SRE capital credits to the membership. This represents capital credits for the years 1993 and 1994. An additional $700,622 of other capital credits will be returned to members for the year 1990.
What does this mean for the members?
As a co-op member, you have a share in the earnings of your electric cooperative. Singing River Electric’s rate revenue is used to operate, make payments on loans and make improvements to the electric system. Any remaining revenue is allocated to the members in the form of capital credits. The amount of capital credits assigned to a member is based on the amount of electricity purchased during a particular year. When funding is available, Singing River Electric’s board of directors can approve retiring a portion of the member’s capital credits.
How do I get capital credits?
Members during the years 1993 and 1994, with an account that is still active, will automatically receive either a bill credit or check based on their credit amount. These members do not have to fill out any paperwork. The checks will be mailed and bill credits applied during the month of December. Previous members who had an account from 1993 and 1994, but no longer have an active account, can visit singingriver.com or call any SRE office between now and Dec. 31 to receive instructions and download the necessary paperwork to claim their capital credits. Completed documentation must be returned to the Singing River Electric Lucedale office by 5 p.m. on Thursday, Dec. 31, 2020.