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Operation at cost is part of the cooperative difference

December 2, 2016

 • BY Rob Ford

Electric cooperatives have retired $13.8 billion to members since 1988 —­ $1 billion in 2015 alone.
Electric cooperatives have retired $13.8 billion to members since 1988 —­ $1 billion in 2015 alone.
Electric cooperatives have retired $13.8 billion to members since 1988 —­ $1 billion in 2015 alone.
Electric cooperatives have retired $13.8 billion to members since 1988 —­ $1 billion in 2015 alone.

It’s time for you to get the credit —capital credits, that is― for helping build, sustain and grow Tipmont REMC.

Tipmont’s board of directors voted to retire capital credits to Tipmont members who received service in 1986 and 1987. The capital credits being returned reflect those members contribution of capital to, and ownership of, the cooperative during those years.

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. 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.

Those years may seem like a long time ago. However, those funds helped us build, maintain and expand a reliable electric distribution system and cover emergency expenses.

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.

Do we owe you money?

If a capital credit check is returned (usually because of an incorrect address) or not cashed within six months (180 days), we publish your name in the unclaimed credits database at tipmont.org/unclaimed. You can search this database of unclaimed credits and initiate a claim for any capital credits that may belong to you.

Rob Ford

Rob Ford

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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.

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