What is a capital credit retirement?
Capital credits are the margins that Sussex Rural Electric Cooperative, as a member-owned, at-cost organization, allocates to our members as a return on their equitable investment into the Co-op. When finances permit, capital credits are retired to members based on how much electricity each member used in a given calendar year. For a more in-depth explanation, please see our Capital Credits page.
When was the last capital credit retirement from SREC?
In December of 2023, Sussex Rural Electric Cooperative is retiring a total of $800,000, sent out to members in capital credit retirement checks. $400,000 of this total is from the year 2005 and $400,000 is from 2022. Members who lived on Sussex Rural lines during these years will be sent checks in proportion to the amount of electricity they used during those years.
Please note that while Sussex Rural Electric has consistently retired capital credits each year, retirement is based on the financial health of the cooperative and may not happen every year. During some years, the co-op may experience high growth or severe storms, which increases costs and lowers margins. Our ability in recent years to consistently retire capital credits from the previous year reflects the cooperative’s strength and financial stability.
A newly updated list of unclaimed capital credits will be added once it is available.
UNCLAIMED CAPITAL CREDITS
Even if you move and are no longer a member of the cooperative, your capital credits are still allocated to your account. If you move, please ensure to provide Sussex Rural Electric Cooperative with a new mailing address so your future capital credit checks can still reach you. If you are an heir to an estate, please contact Sussex Rural Electric Cooperative if you think capital credits remain in the estate’s account.
Below is a list of former members that currently have unclaimed capital credit retirement check(s) for the years 2015 through 2020. These checks are currently being held by Sussex Rural Electric Cooperative. Unclaimed capital credit retirement checks usually occur when former members moved out of Sussex Rural Electric Cooperative's service territory and have not provided us with an updated address where they can receive their capital credit retirement checks. If you know anyone on this list, please inform them that they are owed their capital credit retirement check(s) and to contact us at 973-875-5101 to claim them. Accounts listed have at least $10 currently waiting to be claimed.
Until a change in NJ state legislation in 2018, Sussex Rural Electric Cooperative escheated all unclaimed capital credit retirement checks to the state of New Jersey. You can use the state's Unclaimed Property Search Portal to search if you had unclaimed capital credit retirement check(s) prior to 2015.
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