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      • Member Handbook
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      • Apply For Service
      • Transfer/Disconnect Service
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    • Safety
      • Electrical Safety Tips
      • Safety Demonstrations
      • 8-1-1: Call Before You Dig
    • Energy Efficiency
      • Energy Tips & Information
      • Together We Save
      • Home Energy Calculators
    • Member Rebates
      • Rebate Programs
    • Member Programs
      • Peak Alerts
      • Load Management
      • Renewable Energy
      • Distribution Generation Documents
    • In Our Community
      • NCE People Fund
      • Member Appreciation Day
      • Cooperative Community Room
      • Donation Requests
    • Youth Programs
      • Scholarships
      • Cooperative Youth Day
      • Youth Tour
    • Cooperative Information
      • Who We Are
      • Cooperative Service Territory
      • Board of Directors
      • Director Nominating and Petition Schedule
      • Member Advisory Committee
    • Member Communications
      • Annual Meeting
      • Ohio Cooperative Living Magazine
      • Between the Lines
      • Ed Talks
      • Annual Report

Capital Credits FAQ

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  4. Capital Credits FAQs

Capital credits refunds of $99.99 or less will be credited to active members' December electric bill. Capital credits refunds of $100 or more will be mailed as checks to active members in December. All capital credit payments to prior members will be mailed in December.  To assist members experiencing financial hardship during the 2020 COVID-19 epidemic, the Board of Directors voted to refund capital credits early, in May, rather than waiting until December for that particular distribution.

Capital credits are a return of previous years' margins and are not taxable unless electricity is claimed as a business expense.

Capital credits are each member's share of the margins determined by how much electricity was purchased during the year and the rate under which the member was billed. The return of capital credits sets electric cooperatives apart from other utilities. One of the seven cooperative principles is to operate on a not-for-profit basis by returning any net savings to members on the basis of their patronage.

The North Central Electric Board of Directors determines and approves the cooperative's refund annually based on the cooperative's margins. We have to ensure that we are financially stable to refund capital credits by working closely with our management team.

We will be happy to replace your lost refund check. However, we do have to wait until after the check has expired, which is 90 days. At that time we will verify that your check has not been cashed and forward your refund information to our accounting department for replacement.

Each former member is entitled to continue receiving their portion of the annual capital credits refund they earned during their time with the co-op until completely paid out. Please remember to notify the cooperative of all address changes to ensure prompt delivery of your refund.

Your capital credits balance is not a cash value. It is an amount assumed you will receive over a period of time. Changes by membership to the code of regulations in 2023 has affected this answer.  Stay tuned for more info or call the cooperative to discuss current status.

Due to federal "Red Flag" rules, we must verify that you are authorized to receive the funds from the capital credits account. The federal "Red Flag" rules help to protect our members against identity theft.

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Location

North Central Electric Cooperative
350 Stump Pike Road
PO Box 475
Attica, OH 44807

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(419) 426-3072

Hours:
Monday thru Friday
8:00 a.m. to 4:30 p.m

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