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Your Capital Credits

Claverack is a member-owned, non-profit electric cooperative.  As a not-for-profit, any funds remaining after expenses have been paid each year, also known as margins, are allocated back to our members.  These allocated funds, called capital credits, accumulate each year you remain an active member on our lines.

The allocation notice that you received in June shows the capital credits which have been allocated to your account(s) for the year of 2020.  You will notice that there are two types of allocations – Coop and G&T.

The cooperative allocation is based on revenue you paid to the cooperative for electric service during 2020.  The G&T allocation is a result of capital credits assigned to Claverack REC from Allegheny Electric Cooperative and is based on the amount of electricity you purchased for the year.  

Rather than being returned immediately to members, capital credits are often first used as working capital for new construction and system improvements, reducing long term debt and helping keep rates as low as possible.

Once new construction and system improvement needs are met, and based on the financial condition of the cooperative, the board of directors may authorize a retirement of capital credits.  When a retirement of capital credit occurs, all active members will receive their retirement in the form of a bill credit.  Inactive members will receive their retirement in the form of a check.  It is very important that all inactive members update the cooperative with any address changes as they occur so that we can ensure your retirement checks will find you.

Please note that this is not a bill, nor can these amounts be applied to your electric service account, this is simply an informational notice.  

 

When can I expect to receive my next capital credit retirement?

Active members will receive their portion of the retirement of capital credits on your July 2021 bill.

Members who no longer have service with the cooperative will receive a check by mail if it is greater than $10 (credits remain on the account until the $10 level is reached, at which point a check will be issued.)  Please be sure that your mailing address is always up-to-date with us so your check is successfully delivered.

Here is a short video to explain it even more:

 

 

IMPORTANT INFORMATION FOR FORMER CLAVERACK MEMBERS:

Over the years, members who no longer have active service with Claverack have not updated their mailing address with us so we were unable to successfully send them a check.  We may owe money to you, or someone you know.  Click here for more information and to review the full list.

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32750 Route 6, Wysox PA 18854

Phone: 570-265-2167

Toll-Free: 800-326-9799

Fax: 570-265-6019

Click here for MAP & DIRECTIONS 

41°45'34.0"N 76°21'46.0"W 

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©2022 Claverack Rural Electric Cooperative, Inc. All Rights Reserved.

  • Your Co-op
    • Annual Report/Annual Meeting
    • CEO
    • Claverack Facts
    • Claverack Policies
    • Cooperative Principles
    • Current Bylaws
    • Directors
    • Employees
    • Employment Opportunities
    • History Of Rural Electrification
    • Mission Statement
    • Touchstone Energy Cooperatives
  • Your Home
    • Advanced Metering Infrastructure (AMI) Information
    • Co-op Connections
    • Electric Inspections
    • Generators
    • Member Equipment
    • Meter Tampering Charge
    • New Service
    • Outages
    • Right-of-Way Q&A
    • Service Specs
    • Used Poles
    • 2022 Schedule of Fees
  • Your Bill
    • Update Your Contact Information
    • Gift Certificate
    • Levelized Billing
    • Operation Round-Up
    • Payment Options
    • Time Of Use Rate
    • Security Deposits
    • Together We Save
    • Rates
    • SmartHub 101
    • Your Capital Credits
  • Your Community
    • Distracted Driving Video
    • Dry Hydrants
    • First Responders
    • Penn Lines
    • Safety City (Safety Presentation)
    • Safety Quiz
    • Scholarships
    • Youth Tour
    • Informational Links
  • Your Questions
    • Alternative Energy
      • A Message from Claverack about Alternative Energy
      • Solar Power
      • Windmills
    • Energy Audit
    • Heating Options
    • Power Quality
    • Rates
    • Electric Vehicles
    • Rebate Programs
    • Tree Work and Line Maintenance
  • High Speed Internet News
    • Click Here for the Latest News
    • Revolution Broadband Frequently Asked Questions (FAQ's)
    • Tariff & Regulatory Information