Watch May Bills for Your Capital Credit Allocation and Refund
HomeWorks Tri-County Electric Cooperative member-owners will see the benefits of cooperative principle #3 (Members’ Economic Participation) on May energy bills.
The board of directors authorized an allocation and retirement of capital credits after the audit was approved in March.
First, because we are operated on a not-for-profit basis, margins will be allocated back to members based on your purchases of energy during 2013. This includes the cooperative’s margins of $1,126,096; a $200,000 dividend paid to the cooperative by its subsidiary, Tri-Co Services; and $2,639,017, representing HomeWorks Tri-County’s share of Wolverine Power Cooperative’s 2013 margins.
These allocations are NOT cash, only an accounting of your share of ownership in the cooperative. The amounts allocated to your membership for 2013 will be printed in the top right message area of your May energy bill.
Your bill will also show your total unretired capital credits, which will be retired at a future date as determined by your board of directors.
Retiring Capital Credits
Retiring capital credits is a way of ensuring each generation of members provides its own equity.
The board’s philosophy is to pay most of a retirement from the oldest capital credits on account, and a smaller percentage from the most recent year.
We believe this achieves the purpose of recycling the cooperative’s capital, while also giving our newest members a chance to see one of the most fundamental cooperative principles in action.
This year’s general retirement totals $1,340,000, of which $890,000 retires capital credits allocated by Tri-County Electric in 1986, 1987, and 2013. Also being retired are $450,000 in power supply capital credits from, 1989 and 2013.
Your retirement will be paid as a credit applied to your May energy bill. It will show as a line item under “Other Charges and Credits.” For more information, the attached pdf files discuss allocations and retirements in a little more detail.
The board also set aside funds for retiring capital credits to members’ estates, on a first-come, first-served basis. Estate retirements will include both Tri-County Electric and Wolverine Power capital credits. For more information about estate retirements, call Member Services at 1-800-562-8232.
Help Members Find Unclaimed Checks
These former co-op members were due to receive inactive account refund checks, which remain uncashed. We’re also looking for past Rural TV of Michigan customers to pay them inactive account refunds.
We tried to deliver these checks by mail, to the last address given to us by the person or business listed. If you know someone listed below, or have a current address at which we can contact them, please call HomeWorks at 517-647-7554 or 1-800-562-8232.
You can also contact us by email at firstname.lastname@example.org (or use the Contact Us link at our website, homeworks.org.)
Name Last Known City
Inactive account refunds (2009 uncashed)
Circle S Gardens Crystal
Kelly J Kuhn Sand Lake
Rural TV refunds (2010 uncashed)
Dawn Smith Saint Johns