About Us Capital Credits

Capital Credits

As a not-for-profit electric cooperative, we are different than most utilities. We are owned by our consumer-members. Rates are set to generate enough money to pay operating costs, make payments on loans and provide an emergency reserve. But, unlike a for-profit, investor-owned utility, there is not a shareholder pool of money available to fund capital improvements, maintenance and operations, or to maintain the financial strength of the cooperative. In order to provide for those needs, any money left over after paying expenses each year becomes the co-op members’ ownership investment to build and maintain the electric distribution system. The funds from this shared financial responsibility of all current and past members are called capital credits, and we keep track of each member’s share.

Pioneer Electric Cooperative has been able to make general retirements of capital credits to current and former members since 1981. Those retirements, along with the discounted retirements to estates, have totaled more than $60 million.

Former MembersPlanning For the FutureFrequently Asked Questions

How Capital Credits Work

Are you a former member?

Search for unclaimed capital credits

Update your address or contact information

Fill out the form here, send us a message, or call our office at 800.762.0997 during normal business hours.

Plan Ahead for Your Membership

Each May and June, many current and former members of Pioneer receive a bill credit or check for their portion of retired capital credits and this year is no exception. But do you know what happens to those funds after a member passes away? It is important to know and consider all of your options.

These forms help ensure your membership is handled according to your wishes in the future.

• Joint Membership with Right of Survivorship Form
• Designation of Beneficiary Form

Your Options

Pioneer offers a few options for the handling of capital credits after a member has passed. The method chosen determines the pace at which the credits will be retired and who will receive the credits. By default, after death, a member’s capital credits are allocated traditionally through an estate and/or probate process. However, members may designate ahead of time another option that may result in quicker or easier transfer of capital credits to the member’s survivor(s). The specifications necessary for a loved one to claim those capital credits changes when the capital credits on the account surpass $4,000. Check out additional options below or call our office to talk to a member service representative 800.762.0997.

1. Place a Payable on Death (POD) beneficiary on your account
2. Set up a Joint membership with Spousal Right to Survivorship
3. Setting up a qualified, revocable trust

Learn More Learn more about these additional options or find POD beneficiary and Joint Membership with Right of Survivorship forms online at www.bit.ly/CCRetirements.