Your cooperative is operated on a not-for-profit basis. As a member of Richland Electric Cooperative you share in any excess margins (revenues - expenses) the Co-op has in a particular year. The surplus margins are allocated to members of the cooperative in the form of Capital Credits (Patronage Capital). Capital Credits reflect each member's ownership in the cooperative. They are used by your cooperative to help build and maintain the electric system and then when finances permit, the board of directors authorize a refund to you in the form of a bill credit or check.
Capital Credits accumulate in an account in your name. Your capital credits are paid to you as a percentage each year usually during Co-op month (October). The percentage is determined by Richland Electric Cooperative’s Board of Directors according to the cooperative's financial condition. For active members, the capital credit refund is paid to you on your electric bill, usually in October.
If you are no longer receiving electric service from Richland Electric Cooperative, you are still able to receive capital credits. However, we do ask that you keep us informed as to your new address. This will make sure we are sending the fund to the correct place.
The minimum distribution to inactive members is $20. Distributions that do not meet the minimum will be held on inactive electric accounts and distributed by check when the retired amount meets the $20 minimum.
Again it is very important to keep us updated with your new address and phone number should we need to reach you.
If members do not claim their capital credits they go directly into our scholarship fund. Our scholarships are available to any graduating high school student that will be attending a post-secondary school. You can learn more about our scholarship and its requirements by clicking below.
Notice of Forfeiture of Funds Held By Richland Electric Cooperative Unless Claimed by Owner
Pursuant to Wisconsin Statures Section 185.03(10), you are hereby notified that Richland Electric Cooperative, of Richland Center, Wisconsin 53581, has in its possession unclaimed funds. If your name is on this list, you may claim these funds by contacting the Cooperative and furnishing proof of your legal interest in such funds on or before September 1, 2020. You are further notified that unless you do claim such funds and provide satisfactory evidence of your right to receive the same by September 1, 2020, these funds will be forfeited to the Cooperative.
Published this 14th day of May, 2020.