Capital credits are among the factors that differentiate electric cooperatives from investor-owned utilities. They represent each patron’s economic share of the co-op and are a direct benefit of membership in South Central Power.
As a not-for-profit cooperative, South Central Power annually allocates to electric patrons any income that remains after expenses are paid. The allocation is applied to each patron’s capital credits account and is based on the amount of electricity purchased during a particular year.
South Central Power annually prepares a list of names and addresses for patrons with capital credits, and posts it here during the months of August and September. If you know individuals or business owners whose names appear on the list, ask them to notify the cooperative with their current address. The cooperative can then inform them of their capital credits account status.
Additionally, if you find the name of a former South Central Power patron who is now deceased on this list, please ask the executor of the estate to contact the co-op.
Looking for Unclaimed Capital Credits?
South Central Power is seeking to locate former members who may be eligible for unclaimed capital credits from 2001. Search the list below to see if your name, business, or a family member’s name appears. If you find a match, please contact us so we can verify eligibility and provide information about your capital credits account. If the individual is deceased, the executor of the estate should contact the cooperative.
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Frequently Asked Questions
What are Capital Credits?
Annually, the co-op determines its net margin (revenue less expenses). The Board of Trustees approves allocating that margin to consumers proportionately to the amount of electricity they purchased in that year. Allocated capital credits are paid on a 20-year cycle, provided the cooperative’s financial position is not jeopardized. In the meantime, South Central Power uses the money as operating capital.
Capital Credits are also paid to the estates of deceased members. To claim capital credits on the estate of a deceased member, please call us at (800) 282-5064.
Do Co-Op Members Earn Interest On Their Capital Credits?
No, interest is not earned on capital credits.
When Do Members Receive Their Refund?
Generally, capital credit refunds are distributed during the second quarter of each year.
How Are Capital Credits Returned to Co-Op Members?
Capital credits are refunded to the membership through a general retirement approved by the board of trustees. Before authorizing a retirement and issuing a refund, the board of trustees considers the co-op’s financial condition.
Our co-op refunds capital credits use a 20-year revolving cycle.
What Happens To My Capital Credits If I Leave The Service Area?
Capital credits remain on record until returned. Former consumers are advised to keep your address current with the billing department so that refunds can be made on the normal 20-year rotation. If not claimed within 4 years after the retirement notification, capital credits held for consumers are reallocated and are no longer payable to the former consumer.
I Saw My Name On The List Of Unclaimed Capital Credits. How Do I Collect Capital Credits Owed To Me?
Call South Central Power at (800) 282-5064. Former members will need to provide their Social Security number/Tax Identification Number, a valid mailing address and a phone number.