The Co-op will be mailing capital credits checks on or about December 15, according RGEC Consumer Accounting Supervisor Zoila Campos. This year’s distribution is for approximately $850,000 from 1993.
What are Capital Credits? When you became a member of Rio Grande, that also made you an owner. After expenses are paid, any excess revenues (margins) RGEC takes in from the sales of electric energy is reinvested in strengthening the system that powers your home, farm, ranch, or business. These funds are called capital credits, and they help fund improvements to ensure system reliability and meet the growth demand RGEC is experiencing. This reduces the need for commercial loans, which helps keep costs down. A record of your investment, or capital credit account, is established when you became a member of the cooperative. Each year, usually in August, we send you a capital credits allocation statement, informing you of the most recent allocation to your account. Capital credits are based on the amount of electricity each member used in a particular year. If you were a Co-op member in 1993, you have something to look forward to this month!
Unclaimed Capital Credits. At present, there are unclaimed capital credits from previous distributions totaling $1,274,257.13. Individual unclaimed amounts range from $165,909.93 to $.03. There are 132 on the list, for whom the unclaimed amount is over $1,000, and many more for whom the amount is several hundred dollars. To view the complete list of unclaimed capital credits, go to www.riogrande.coop and select “capital credits” from the drop down menu under the “My Account” tab. Assistance is also available by phone at (800) 749-1509, Option 5, during regular business hours of 8 a.m. to 5 p.m. Central weekdays.
Since Rio Grande began repayment of capital credits for the year 1951 in 2011, we’ve returned over $13 million to members and former members.
