At Chariton Valley Electric Cooperative, every member is an owner of the business. Unlike other electric utilities, your co-op exists to make sure your needs are met, not to make a profit. As a member-owner, you share in the margins or profits in the form of Patronage Capital checks.
We work hard every day to keep your rates as low as possible. But it's nice to know that when there are margins, they go back to you!
Does All the Revenue Earned By Chariton Valley Electric Go Back to the Members as Patronage Capitals?
Chariton Valley Electric is organized as a cooperative, owned by its members. As a cooperative, any revenues and other income over and above the cost of doing business during a given year are considered "margins".
A percentage of these margins is "allocated" to each member's Patronage Capital account for those members of the cooperative who bought power from us during the year. Patronage Capital is not the same as cash or stock. The members' account accrues Patronage Capital until the Board of Directors authorizes a payment.
Do I Have A Patronage Capital Account?
If you are a member of the cooperative, you have a Patronage Capital account.
Why Don't I Get My Patronage Capital As Soon As It Is Allocated?
Patronage Capital is held by the cooperative in your Patronage Capital account as capital contributions until paid back to the members in the form of patronage capital check.
Patronage Capital is used for a variety of operating and capital costs and are typically repaid to members of record for the year in which they were earned. This membership capital allows us to conduct our daily business and to help reduce the cost of borrowing and hold down rates.
How do I Get the Money From My Patronage Capital Account?
The board of directors considers a retirement of Patronage Capital annually. When a Patronage Capital retirement is authorized by the board, both the dollar amount and year(s) to which the allocations relate are specified.
Chariton Valley Electric Cooperative offers special payment options of Patronage Capital to estates. If the person to whom the check is made out to has passed away, please notify our office.
For any further questions, please call us at 641-932-7126 or 800-475-1702.