Capital Credits are a key benefit for members of an electric cooperative, representing your share of the cooperative's margins and ownership.
At the end of each year any remaining revenues, after all expenses are paid, are allocated back to members based on their electric usage. The Board of Directors annually reviews the cooperative's financial health to decide if Capital Credits can be retired and returned to members, which may not happen every year.
We monitor your annual electricity usage.
At year-end, we check for any excess revenue.
Capital Credits are allocated based on usage.
When possible, Capital Credits are paid out.
When a member passes away, the Capital Credit account belongs to the members’ estate. The estate representative must submit a Death Certificate along with Letters of Testamentary or a Will. If no Will exists, a notarized Affidavit of Heirship completed by a disinterested party is required. Forms can be found at the bottom of the page. Please call (903) 482-7100 for more information.
If you move out of GCEC service territory, please make sure to update your address so that we can contact you regarding any future Capital Credit refunds. Call us at (903) 482-7100 or fill out our change of address form to update your address or for assistance.
If you have received a check issued to a deceased member, a joint account after a divorce, or any other incorrectly issued check, please contact us at (903) 482-7100 for correction. You may need to provide identification or legal documents to verify your representation of the estate or account.
Not exactly. Capital Credit allocations are determined annually, but you will only receive a check or bill credit if the board of directors authorizes a retirement. The board evaluates the cooperative's financial health before making this decision.
Allocated Capital Credits represent the member's share of the net margins, reflecting your equity and ownership in GCEC. Each year that the cooperative achieves positive margins, members receive Capital Credit allocations. These funds are reserved for operational capital, improvements, and maintenance over several years.
A retirement is the refund amount a member receives, which is a portion of your total allocation. When Capital Credits are retired, a check is issued, or a credit is applied to your bill, thereby reducing your equity in the cooperative. Until retirement, the allocation holds no cash value. The decision to retire your Capital Credits lies with the GCEC board of directors and depends on the cooperative's financial health.
