One of the benefits of being a rural electric cooperative member is the payback you receive through patronage capital.
When GCEA generates excess revenue beyond our expenses and reserves, a portion of those funds —
known as patronage capital — is allocated to members based on their energy usage during that year. GCEA keeps a record of your patronage capital allocation, and when financial conditions permit, the board of directors approves a refund of your allocated patronage capital. During the May 2023 board meeting, the GCEA Board of Directors approved the 2022 allocation amount of $801,583. Members who were on GCEA service in 2022 received a Patronage Capital Certificate in the mail representing their 2022 GCEA Patronage Capital Allocation. This certificate offers members the flexibility to choose whether to cash it in early at a discounted value (as listed on the certificate by date) or hold onto it to allow its value to grow over time. Redeeming your Patronage Capital Certificate early is a straightforward process. When you are ready, you can either visit one of GCEA’s offices or mail the signed certificate to us. When indicating your redemption preference, you may choose one of three options: bill credit, check, or donation to GCEA’s climate action, member assistance, or scholarship fund. If you sign and return your certificate without designating a preference, we will issue a credit on your electric bill, provided your account is still active. Otherwise, we will send you a check.
The GCEA board sincerely appreciates your membership and patronage. If you have any questions about this program, please don’t hesitate to contact our staff at 970-641-3520. You can also find additional information in the Frequently Asked Questions section included with the mailed letter and Patronage Capital Certificate.