Capital Credits

About Capital Credits

As a member-owner of SECO Energy, you share in the cooperative’s success. Capital Credits represent your portion of the margins generated each year — returned to you because we operate at cost, not for profit. It’s one of the most meaningful benefits of cooperative membership and a clear example of the Cooperative Difference in action.

Capital Credits FAQs

Sumter Electric Cooperative, Inc. (d.b.a. SECO Energy), is a not-for-profit member-owned cooperative. Sound financial practices and legal requirements are such that each year we must have an excess of revenues over expenses. This excess is referred to as margins, and by law, must be allocated to each of the members who paid electric bills during the year. This is done by dividing the Cooperative’s total margins by total revenue, and multiplying the resulting percentage by each member’s payments for SECO service for the year. Each member’s portion is referred to as his/her Capital Credits, also called patronage capital, for the year.

Capital Credits may be returned by general or estate retirements as approved by our Board of Trustees, based on the financial condition of the Cooperative. General retirements are normally made on an annual basis to current and former members. Current members receive the refund as a credit on their electric bill usually in November of each year. Former members receive a check. Heirs or estates of current or former members may file a claim for assignment of accumulated Capital Credits. Payments are made as part of the general retirement process.

If you move from our service area, the Capital Credits accumulated in your account will remain in your name. It is important that you keep SECO Energy informed of your current address so that we can send you a refund when a general retirement is made. By keeping SECO informed of your current address you will avoid a monthly service charge assessed on accounts with unclaimed refunds.

Unclaimed Capital Credits

If you previously lived in SECO’s service territory and believe you may have unclaimed Capital Credits, you can search our list of members with unclaimed credits below.

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Unclaimed Capital Credits Inquiry

Who is claiming the funds?

Self

Spouse

Heir

Business Owner

SECO Energy Account Name

Last 4 of SSN#

Last four of SSN for Member of Record *

Company Name (if applicable)

Account Number

Email Address

Service Address

Address

City/Town

State/Province

ZIP/Postal Code

Approximate start year of SECO Energy service?

Current Mailing Address

Address

City/Town

State/Province

ZIP/Postal Code

I attest that the information above is accurate to the best of my knowledge.

Capital Credits

About Capital Credits

Capital Credits FAQs

Unclaimed Capital Credits

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Unclaimed Capital Credits Inquiry

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What are Capital Credits?

Are Capital Credits returned to Members?

Are Capital Credits returned to Commercial Members?

Do I earn interest on Capital Credits?

Do I have to report Capital Credits on my Tax Return as Taxable Income?

What if I move away?

Unclaimed Capital Credits Inquiry

Unclaimed Capital Credits Inquiry

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