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 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 2017 - After reviewing the operating revenues of 2016, your board of directors approved to allocate $865,439.39 in excess margins.
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.
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.
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.
On your capital credit statement; Another great feature of the SmartHub system is to see your capital credits; Call our office (712) 647-2727
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 firstname.lastname@example.org.
Patronage checks are stale-dated (VOID) 60 days from their issue date. Please cash your check as soon as possible when you receive it.
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.