Capital credits represent funds already earned through cooperative membership. When addresses are kept current, proper distribution of those funds can be ensured.
Capital Credits
Former members who believe capital credits may be owed are encouraged to contact Petit Jean Electric and provide an updated mailing address.
Petit Jean Electric contact information:
- Clinton Office: (501) 745-2493
- Marshall Office: (870) 448-3477
Unclaimed capital credits are credits owed to former members whose current contact information is not on file. These funds remain payable but cannot be distributed without updated address information.
When a current mailing address is not provided, capital credit checks cannot be delivered. As a result, credits may remain unclaimed.
Members are encouraged to always contact Petit Jean Electric with any address changes to ensure proper delivery.
If an unpaid balance is present, the capital credit is applied to reduce that balance.
When capital credits are retired, payment is issued by check or applied as a credit to the member’s account, depending on circumstances. Payment is made by check when the member no longer has an active account with the cooperative. Otherwise, the amount is applied as a credit to the member’s active account.
Capital credits are not returned immediately. A retirement schedule is established by the member-elected Board of Directors, based on the financial condition and long-term needs of the cooperative.
Records of capital credits allocated to each member are maintained by Petit Jean Electric until those credits are retired and returned.
Capital credits are allocated based on the amount of electricity used by each member during a given year.
Petit Jean is an electric cooperative owned by the members it serves. As a not-for-profit entity, any revenues remaining after the cost of doing business are considered margins, also known as capital credits.