EDIT: Dec. 20 – Some TVEC bills say “Miscellaneous Charge” rather than Capital Credit Refund.
On at least two billing cycles TVEC members will see a “Miscellaneous Charge” line item rather than a capital credit line item. The amount is correct and this line does reflect your capital credit refund from 2022 and/or 1995. We apologize for the confusion.
This article appears in the December, 2023 TVEC edition of Texas Co-op Power magazine.
When You Joined Trinity Valley Electric Cooperative, you began investing in the company’s electrical infrastructure, equipment, facilities and growth. Member ownership is one of the key differences between co-ops and retail providers, and with each electric bill you pay, your equity in the co-op grows.
TVEC is a nonprofit, member-owned co-op, so any operating margin is allocated to each member based on the amount of electricity purchased each year. It is a fair way to show each member’s investment, and the co-op has that capital available to assist in funding growth and important projects to improve service and reliability.
As the co-op’s financial condition allows, your elected board members refund these capital credits to members. For 2023, the TVEC Board of Directors has approved the return of almost $4.6 million in capital credits.
This amount will include all remaining credits from 1995 and 10% of all other credits for members from 2022. Members who joined in 2023 have not yet been allocated any credits and therefore will not see a refund.
Current members will receive refunds as credits on the electric bills mailed from the co-op in December. Former members will receive a check at the address we have on file.
While credit amounts will vary greatly depending on how long you have been a member and how much electricity you have purchased, the return of capital credits is an important part of the financial stewardship of the co-op.
If you have any questions regarding capital credits, please contact TVEC at 972-932-2214 or email memberrelations@tvec.coop.
If You Move, Keep Your Address Updated at TVEC
The capital credits system means that you will have money in the co-op for years to come. If you move out of co-op territory it is important to keep us updated with a current mailing address for capital credit checks and other communications.
If you, or someone you know may have capital credit refunds that have not been received please contact us.
For capital credit refunds more than three years old, visit claimittexas.org. The State of Texas maintains the website for the return of unclaimed funds, including capital credits.
