Capital credits are just one big benefit of being a member of our co-op, one that LITERALLY pays you for being a member. Since you're part owner of your REMC, you share in its success!
Capital credits are based on a percentage of a your’s electric usage or bill for a specific year
Capital credits are not retired all at once. The Board considers the cooperative's overall position before approving a capital credit retirement to qualifying members. Current members with active accounts will see their capital credits applied as a bill credit; inactive members will receive a check in the mail to the last known address we have on file. Any checks that are not cashed or claimed within three years will be published in our unclaimed listing (see search bar below) in an attempt to find the person; if not claimed within 60 days of that publication, the checks are then rolled back into the general fund for redistribution to other members.
If the name on the check is a previous owner or someone you do not know, write "Return to sender" on the envelope and place it back in the mail.
If the name on the check is deceased, the rightful heir or executor of the estate should contact the office to claim the funds. They will need to fill out some paperwork in order to do so. You can call the office at 260-665-3563 or fill out the form at : https://remcsteuben.com/capital-credits-claim-form.
Unclaimed capital credits are checks for former or current members that have not been cash. A list is published to notify those member that they have unclaimed funds. You can search the list below.
Unclaimed Capital Credit
Most refunds are returned to the cooperative because we do not have a current mailing address or contact information for the former member. To see if you are on the list of unclaimed capital credits, simply enter your last name and search our records for all unclaimed capital credits. If your name is on the list, complete the form and submit it to Steuben County REMC. Someone will contact you to further discuss and verify the claim.
Please remember that as you move off Steuben County REMC's lines, you should inform our office of your current address.
To see if you are on the list, search by name using the alphabetical listings below.