Members of Northeastern REMC enjoy several benefits that customers of other types of electric utilities don’t get to experience. One special benefit is receiving patronage capital.
When our revenues exceed expenses and the board determines there are adequate reserves to meet our cooperative’s business needs, the balance is returned, or “retired,” to members. These members receive a patronage capital retirement check. The amount being returned is based on how much power the member had used.
When a member moves out of our service area, patronage capital is retired at a discounted rate and appears as a credit on their final bill.
Unclaimed patronage capital await former members
Northeastern REMC is attempting to locate former members who have unclaimed patronage capital awaiting them. If you recognize any of the names in the list, please contact that person or his immediate family and ask him/her to contact Northeastern directly at 1-888-413-6111 ext. 415. Your assistance is greatly appreciated.