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Capital Credits Were Returned In September 2018

Once again capital credits were returned and reflected on this year's September's bill.

This year AEC is returning $250,000.00 in capital credits to members. Since 1989 AEC has returned over $11 million.

Rural electric cooperatives, such as Anza Electric Cooperative, Inc. (AEC) operate differently than investor-owned utilities (IOU's). Electric cooperatives are not-for-profit entities, delivering electricity to their membership at the cost of service. IOU's, on the other hand, exist to make a profit, a part of which is distributed to investors in the form of dividends. These dividends are only available to those who invest in the utility. The remainder of the profit is retained by the IOU.

In the cooperative model, excess revenue that is left over at the end of the year must be returned to it's membership in the form of Capital Credits. The amount returned is in proportion to the member's electric bill. A member with high electric bills will earn more capital credits than a member with lower electric bills.

This year AEC is returning a portion of capital credits earned from 1998 through 2016.

We all have times in our lives that we need a little help with the everyday issues that come up occasionally; the kind of issues that involve financial challenges.

As a member owned and controlled cooperative, one of our basic principles is “Concern for Community.” For Anza Electric, this simply means that we have a responsibility to do what we can to make the place that we all live a little better. When our members have financial challenges, we want to be able to help. Here are three programs available to do just that:

Smiles 4 Seniors

If you’re over 65 and meet certain income requirements, this non-profit program provides emergency assistance and safety net services to struggling low income seniors who would otherwise have nowhere to turn. Contact them at Smiles for Seniors Foundation P.O. Box 1113 Yucaipa Ca. 92399. (909)790-6671 or visit their website at www.smilesforseniorsfoundation.org

Low Income Home Energy Assistance Program (LIHEAP)

Administered by the Community Action Partnership of Riverside County, this federally funded program provides utility payment assistance and weatherization services to low income customers in Riverside County. Apply online at www.capriverside.org/program/utilityassistanceprogram

Cooperative Care Program

This program is truly what our Cooperative is all about- helping our Members. We started this program ourselves, looking for a way to provide a helping hand when and where it’s needed. Members are eligible for up to $300 assistance annually, and the Thimble Club administers the program. It’s funded through Operation Roundup®, which rounds up participants’ electric bills to the nearest dollar, and contributing the extra change to the program. Funding is also provided through escheated Capital Credit funds.

To get more information on this unique program, visit our website here: www.anzaelectric.org/content/assistance-utility

To sign up for Operation Round Up info, please visit:

www.anzaelectric.org/content/operation-round

Or, stop by the office or give us a call at (951)763-4333. We’re always glad to help.
 

Is your account past due?

If your due date has passed or you have a payment arrangement you have not kept, contact the AEC office right away. In most cases, we can offer some additional payment time.

What will happen if I don’t pay by the due date?

The short answer is, your service will be disconnected. Disconnecting services for the non-payment is the last thing we want to do. That's why we encourage members to contact the AEC office.

If you receive a delinquent notice on your bill, you will need to respond by the date hi-lighted in the message and also listed in red at the bottom of the bill as the “Disconnect Date. ”

If you have already made a payment arrangement and find you can’t keep the date, be sure to contact the AEC office to see if new arrangements can be made. If no arrangement exists or an arrangement has been broken, a message will be sent to the phone number(s) we have on file letting you know to respond by a specific date and time to avoid disconnection.