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Values, Vision & Mission
As a member of Runestone Electric Association, you are entitled to a share of the cooperative’s margin – revenues less expenses. When REA has a margin in any given year, your share of that margin is recorded as your capital credit allocation.
The goal is to refund this credit to you over time. Until such time, it provides adequate cash flow for reinvestment in the business and shows the financial stability that is required to obtain the funds we need to provide reliable service.
What happens if I move and I’m no longer a member of REA?
As long as you keep us informed with your current mailing address we will send your refund check whether you’re a current co-op member or not.
I’m turning 80 this year – do I qualify for a special refund?
Yes! When you turn 80 years old or if you have already celebrated your 80th birthday, you qualify for a senior refund of your accumulated capital credits. This one-time refund is a lump sum payment of the accumulated capital credits that are currently held by the cooperative. If the membership is a joint membership, only one of the members needs to be age 80.
Members requesting a senior refund complete a simple form. They are asked to show proof of their age from identification like a driver’s license or birth certificate. However, age can also be verified by a family member.
Are my capital credits taxable?
Yes and no – depending if you use electric costs as a tax deduction. It’s a good idea to consult your tax preparer for more information on claiming capital credits.
Watch your mailbox
Checks are mailed around the end of February.