One of the seven cooperative principles is economic participation. As a member of the cooperative, you have the benefit of the return of patronage capital, or profit. Capital credits reflect your ownership in the cooperative. Your cooperative has returned over 8 million dollars in patronage capital checks to its members throughout the years.
As you pay your energy, we utilize the revenue to grow, operate, and maintain a safe and reliable system. Any money that is earned over and above these costs of doing business is called margins. Your portion of allocated margins is then returned to you in the form of capital credits. Every member gets a "piece of the pie."
See below for more information on how the capital credit process works and why we may be looking for you!
The JREC board reviewed the financials for 2021 and determined how to best retire capital credits. The board approved retiring 100 percent of any capital credits allocated in 1991 and 50 percent of 1992, and 2 percent of all capital credits allocated in the years 1993-2020. The total capital credit retirement for 2021 is $438,939.72. These capital credits were applied to energy bills mailed in November 2021. Inactive members who have a retirement of $10 or greater were mailed a check in December.
Capital Credit Account Reminders
If you move off JREC service lines, please be sure to contact our office with your new address so we can continue to send capital credit retirements you are eligible to receive in the future.
We may be lking for you!
NOTICE OF FORFEITURE OF FUNDS HELD BY JUMP RIVER ELECTRIC COOPERATIVE, INC., UNLESS CLAIMED BY OWNER
Jump River Electric Cooperative has several members who have not cashed their capital credit checks that were paid out in 2017 and are listed here: Name List. Pursuant to the Wisconsin Statutes Section 185.03 (10), you are hereby notified that Jump River Electric Cooperative Inc., of Ladysmith, WI 54848, has in its possession unclaimed funds that may belong to you. If so, you can claim these funds by contacting the Cooperative and furnishing proof of your legal interest in such funds on or before September 30, 2021. You are further notified that unless you do claim such funds and provide satisfactory evidence of your right to receive the same by September 30, 2021, these funds will automatically be forfeited and transferred to the Wisconsin Federated Youth Foundation for educational and charitable purposes.
The following is the list of members that appeared in the Wisconsin Energy Cooperative News and have not cashed their capital credit checks that were paid out in 2019: NAME LIST
If your name appears in either list above, please contact us. If you know someone on the list, please contact us only if you know their current address. You can reach us at 715-532-5524 or email us at email@example.com. In cases where the person is deceased, please call us if you know the contact information for a relative or benefactor who may have rightful claim to the capital credits. Any unclaimed checks will revert to the Wisconsin Federated Youth Foundation, Inc. The Foundation is a charitable tax-exempt trust established by the Wisconsin Electric Cooperative Association for educational and charitable purposes.
Capital Credit FAQs
Capital credits cannot be used to pay your current electric bill. However, when the board elects to retire capital credits and return them to members, active members receiving a capital credit will receive them as an energy credit, generally in the fourth quarter of the year.
The board of directors decides when it is financially feasible for capital credits to be returned to members while maintaining adequate reserves of capital business expenses. In recent years, JREC has employed a disbursement strategy in which members who have had outstanding capital credits for the longest period received payments. You will receive your portion of the $438,939.72 that is being returned in 2021 on the November statements. '
Capital credits are being returned as follows: 100 percent of all capital credits allocated in 1991 and 50 percent of 1992 and an additional 2 percent from 1993 to 2020. Inactive members who are being paid $10 or more will receive a check in the mail by the end of December.
Current members receive an energy credit and inactive members receive a check. It is important that you notify JREC of any address changes when they occur to insure any future checks are received.
Capital credits are yours to keep, even if you are no longer receiving electrical service from JREC. This is why it is important to notify JREC if your address changes.
Several attempts are made to notify members of any unclaimed capital credit funds over the course of multiple years. If not response is received from the member, the unclaimed capital credit funds are transferred to the Federated Youth Foundation to be used for JREC scholarships and charitable donations.
In the event of death, the capital credit account is available for estate retirement. The member's heirs are eligible to continue to receive any remaining capital credit funds or can ask to settle the account.
Heirs will need to provide JREC with documentation verifying their claim to the funds. JREC gives heirs the option of either adhering to the regular capital credit retirement schedule, receiving a special one-time payout that is discounted based on the age of the capital credits, or donating the funds to the Federated Youth Foundation (FYF). JREC uses funds from the FYF for scholarships and charitable donations.
Call 715-532-5524 for more information or to initiate settlement of the capital credit account.
Allocation - Your share of the amount of net margins JREC sets aside into a separate account to be used as operating capital for reliability improvements and maintenance over a period of years. You will receive a notice of allocation each year. Active members will have this printed on their April energy bill. Inactive members will receive this information in the form of a letter mailed to their last known address.
This amount cannot be applied to your energy bill. This is informational only.
Retirement - The amount you receive back as a capital credit refund. This amount is a percentage of your total capital credit balance.