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Patronage Refunds

Patronage Refunds

As a member, you get a portion of your money back.

 


 

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PATRONAGE REFUNDS

One of the major benefits of being a cooperative member is receiving a patronage refund, which is like money back from your power company.

Here's how it works: money remaining after WCEC's bills are paid each year is known as margins (it is the margin between income and expenses). This money is used for capital expenditures, such as building or replacing lines, and is not paid back immediately. This becomes your investment or equity in the company. In a for-profit company, this money would be called profit. In a cooperative, we call it capital credits because this money belongs to you not to the cooperative. To be a true nonprofit cooperative, this money is returned to you as a patronage refund.

We keep track of capital credits in a special account. This is money is eventually refunded to you, your surviving spouse or your estate. The amount of capital credits allocated to your account is in proportion to the dollar amount of electricity you used. In other words, if you paid for 1 percent of the power we sold, you would receive a 1 percent share of the margins left over at the end of that given year into your capital credit account. 

If a member passes away, the capital credit account should be transferred to a surviving spouse.  If there is no surviving spouse, contact our office to initiate a refund of the capital credits. (Some paperwork is involved with this process).  If a member passes away, we pay all patronage at its present-day value.

Patronage Refunds are usually issued once every two years. The amount refunded is determined by our Board and is a percent of the total in your capital credit account.  If you are a current member, you will see this as a credit on your electric bill. If you are a past member who is owed a patronage refund, you will receive it in the form of a check.

NO LONGER A MEMBER?

Patronage Refunds are issued to past members as a check in the mail. Therefore, it is important to keep your mailing address up to date with WCEC to receive these funds.

To update your contact information, call our office at 979-543-6271 or use the online form linked below. If using the online form, note "past member" in the account number field.

Update Your Contact Information
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©2023 Wharton County Electric Cooperative. All Rights Reserved.

  • My Account
    • Manage My Account
      • Start, Stop or Transfer Service
      • Pay Online (SmartHub Login)
      • Payment Options
      • Auto Pay
      • SmartHub
      • Update Account Information
      • Variable Billing
    • Account Information
      • Understanding My Bill
      • Payment Assistance
      • New Service Construction
      • Metering
      • Critical Account Membership
      • Texas Ag Sales & Use Tax Exemption
  • My Membership
    • Member Benefits
      • Co-op Connections Savings Program
      • Patronage Refunds
      • Washington D.C. Youth Tour Trip
      • Outdoor/Security Lighting
      • Products For Your Home
      • Texas Co-op Power Magazine
    • Member Information
      • Annual Meeting of Members
      • Member Resources & Forms
      • Member Communication
      • Notification of Property Hazard/Repair Needed
  • Our Cooperative
    • WCEC
      • WCEC History
      • WCEC Today
      • Board of Directors
      • Power Supply and Distribution
      • Shirly Stubbs Feinstein Endowment
      • Staff & Careers
      • Contact Us
    • Community Involvement
      • Operation Round Up
      • Employee Volunteers
      • CoBank Sharing Success Grant
      • Christmas Lighting Contest
      • Community Presentations
    • The Cooperative Way
      • What is a Cooperative?
      • America's Electric Cooperatives
      • Texas Electric Cooperatives
      • Touchstone Energy Cooperatives
  • Safety & Savings
    • Safety
      • Outage Central
      • Electricity 101
      • Electrical Safety
      • Kids Corner
      • Cybersecurity
      • Scam Protection
      • Call Before You Dig
    • Savings
      • Use Less; Save More - Energy Savings
      • Residential Energy Audits
      • Load Management Program
      • Beat the Peak
  • Internet Services
    • Manage My Internet
      • Pay Online (SmartHub Login)
      • Contact Internet Support
      • Wirehand Wireless FAQs
      • Wirehand Wireless Compatible Equipment List
    • WCEC Internet Options
      • Wirehand Wireless
      • Exede Satellite
  • Outage Central
    • Outage Central
      • Report An Outage
      • Outage Map
    • Outage Information
      • Outage Prep & Safety Tips
      • Outage Prevention
      • Power Restoration