Patronage
Peak Alert
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Your cooperative is currently experiencing normal energy demand. No special energy saving measures are necessary.
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Harrison County Rural Electric Cooperative (HCREC) operates on a non-for-profit basis. Patronage, or capital credits, represent margins credited to cooperative members based on their of power purchased. Annually the board of directors reviews the cooperative's budget and financial position to determine if a retirement of patronage will be approved. Patronage capital is used to support the cooperative operations until "retired" (returned) to individual members in the form of Capital Credits. Patronage retirement is your share of margins the cooperative earned in a given year.
March 2016 - After reviewing the operating revenues of 2015, your board of directors approved to allocate $663,866.43 in excess margins.
What's the member's share of this allocation?
Each year in May, members are mailed a Capital Credit Allocation statement showing their portion of the margin or patronage allocation. Look for the Capital Credit box.
When do members receive capital credits?
Your board of directors determines if there will be a refund annually based on the cooperative financial condition and the provisions of its by-laws.
How is patronage allocation calculated?
Member earnings in a given year are based on individual electricity purchased each year compared to total sold. The sum of the member-owner's bills for the year is multiplied by a percentage determining patronage allocation.
How do I know the balance of my capital credit account?
On your capital credit statement; Another great feature of the SmartHub system is to see your capital credits; Call our office (712) 647-2727
What happens to member-owners' capital credits when they move?
We need your forwarding address and/or name change to continue to contact you regarding capital credits and send checks. If you believe you have a patronage check not cashed or have moved and we can't locate you, contact our office (712) 647-2727 or (800) 822-5591 or email harrisoninfo@hcrec.coop.
How long do I have to cash my check when received?
Patronage checks are stale-dated (VOID) 60 days from their issue date. Please cash your check as soon as possible when you receive it.
If a member-owner dies, what happens to their capital credits?
Survivors should notify our office of a deceased member. Harrison County Rural Electric Cooperative pays patronage to estates on a discounted basis twice annually. If you're interested in a discounted settlement on patronage of a deceased member, less any amounts due the cooperative contact our billing office (712) 647-2727 or (800) 822-5591 to make arrangements.