Claverack is a member-owned, not-for-profit electric cooperative. As a not-for-profit, any funds remaining after expenses have been paid each year, also known as margins, are allocated back to our members. These allocated funds, called capital credits, accumulate each year you remain an active member on our lines. This is one of the most unique and rewarding benefits of being a member of Claverack Rural Electric Cooperative!
What is the Notice of 2025 Capital Credits Allocation I received by mail?
The allocation notice mailed in May of 2026 shows the capital credits which have been allocated to your account(s) for the year 2025. You will notice that there are two types of allocations — Co-op and G&T.
The cooperative allocation is based on the amount you paid to the cooperative for electric service during 2025. The G&T allocation is a result of capital credits assigned to Claverack REC from Allegheny Electric Cooperative and is based on the amount of electricity you purchased for the year.
Rather than being returned immediately to members, capital credits are often used as working capital to help fund new construction and system improvements, reduce long-term debt, and keep rates as low as possible.
Once new construction and system improvement needs are met — and based on the financial condition of the cooperative — the board of directors may authorize a retirement of capital credits. When a retirement of capital credits occurs, all active members will receive their retirement in the form of a bill credit. Inactive members will receive their retirement in the form of a check. It is very important that all inactive members (members who no longer have service with Claverack) update the cooperative with address changes as they occur, so we can ensure your retirement checks will reach you.
Please note: The Notice of 2025 Capital Credits Allocation is not a bill, nor can these amounts be applied to your electric service account; this is simply an informational notice.
When can I expect to receive my next capital credits retirement?
Claverack is pleased to announce that approximately $924,000 in capital credits will be returned to past and current members of the cooperative who had active service during 1994, 2009, and/or 2010.
Active members will receive their portion of the retirement of capital credits on the bill you receive in July 2026.
Former members, those who no longer have service with the cooperative, will receive a check by mail if it is greater than $10 (credits remain on the account until the $10 level is reached, at which point a check will be issued). These checks will be mailed in early July. All inactive members must update the cooperative with address changes as they occur so we can ensure your retirement checks are delivered to you.
Can You Help Us?
We have been unable to deliver checks to many former members because we don’t have their current addresses. We need your help to locate these former members so we can return their funds. Click here to access the helpful search tool.