Member Credits

As your local not-for-profit electric co-op, we're not in the business of making profits - we're in the business of serving you, our members. That's the cooperative difference!

Understanding Your Member Credits

Thank you for investing in your cooperative. Instead of returning profits to stakeholders or foreign investors, we return margins back to the members we serve. Since our founding in 1939, we’ve returned tens of millions of dollars back to our membership through member credits.

2022 Member Credits

This year we returned $2 million in member credits to our members who received service from us during the years 1994, 2005, and 2021, or any combination of those years.

Member Credits FAQs

What are member credits?

At the end of each year, after all of our expenses are paid, the amount of money that is left over is called our ‘margin’. Margins provide equity for our cooperative and are allocated to our members in proportion to their purchases of electricity during the year. Member credits are your share of our margin. Member credits are allocated annually to each member as conditions allow, and are retired in accordance with our bylaws.
How do I get my member credit?

As long as your total member credit(s) is at least or over $10, you’ll receive your member credit in one of two ways. For credits under $250, your account will automatically be credited. For credits over $250, we mail you a check. Member credits are typically applied to your account or mailed out in September of each year as conditions allow.
What happens if I move or are no longer a member of PVREA?

You continue to receive your member credits from us for your previous year(s) of membership in our cooperative! When you close your account with us, we ask for your forwarding address so we can continue to mail your member credit checks to you.

Don’t forget to keep us updated as your contact information changes.
Update Your Info
Allocation vs. Retirement

Allocation occurs when our Board of Directors looks at the prior year and allots any funds remaining after all expenses are paid into a budget item called patronage capital. This designated pool of money is then “allocated” to our members, based on the prior year’s electrical consumption. The allocation is not a check, but a bookkeeping of the amount of money you have invested in your cooperative based on your electric consumption. This allocation amount is notified to our members on your bill every year.

Retirement happens when our Board of Directors takes a hard look at our cooperative’s operations, and decides if a member credit payout, or “retirement”, is feasible. If they decide to retire member credits, the money is paid out or “retired” from each member’s account, based on their past allocations. The credits you receive are tangible proof of your investment into our cooperative.
Why can't you use member credits to reduce my rates?

Our co-op uses these funds as working capital to maintain the existing distribution system and to build new infrastructure without having to borrow money to do so. This is why we allocate funds, and in later years pay out the member credits back to you. It’s part of your economic participation in our co-op and a major principle of our cooperative business structure.
I am due a member credit, but didn't receive it. What now?

First please check our Unclaimed Member Credits List below. If you still have questions, contact us during business hours.
Is my member credit retirement taxable?

We suggest that you seek the advice of a tax professional for any specific questions regarding taxation.
Member Credit vs. Capital Credit

They are the same thing! But since we’re a cooperative, we’re much more member-focused. That’s why we use the term “member credit” instead of “capital credit”.

Unclaimed Member Credits List

If we are unable to return a member’s credit because of an inaccurate mailing address or there was a failure to cash the member credit check, we hold their member credit(s) for a time as designated in our Rules & Regulations.

Please refer to this list if you believe you or a family member are owed a member credit.

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Update Your Contact Information

Keep us updated as your contact information changes to ensure you receive your mailed member credit check(s) for your year(s) of membership in our cooperative. Fill out this form or contact us during business hours.

Make Changes to Your Mailing Address