When you signed up to receive electric service from Tipmont REMC you became a member of an electric cooperative. While investor-owned utilities return a portion of any profits back to their shareholders, electric co-ops operate on a non-profit basis.
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Instead of returning leftover funds, also known as margins, to investors who might not live in the same region or even the same state as you do, Tipmont REMC allocates and periodically retires capital credits based on how much electricity you purchased during the years slated for retirement.
Tipmont’s board of directors voted to retire capital credits to Tipmont members who received service in 1986 and 1987. Those years may seem like a long time ago. However, those funds helped us build, maintain, and expand a reliable electric distribution system and covered emergency expenses. Since most of Tipmont’s assets are fully depreciated in 30 years, this practice ensures that margins generated in excess of 30 years ago are returned to members who paid into the cooperative at that time.
Eligible members receiving more than $15 will receive a check in the mail. Members receiving less than $15 will receive a bill credit.
More information on the distribution process and how to check if you are eligible is available at tipmont.org/capitalcredits.
Rob Ford is Tipmont and Wintek's communication director, a role he's held since 2015.
Rob has a bachelor's and a master's in Communication from Purdue University. He lives in West Lafayette with his wife and three children and has a life-sized Yoda statue in his office. Away from the office, you’ll find Rob working on his golf swing, jump shot, or hope for a Purdue basketball national title – all futile endeavors.