Benefits that pay off, big time.
What makes a co-op like ours different from your typical electricity provider is that you, a member, are part owner. So when we’re successful, it pays off for everyone!
Capital Credits represent your allocated share of the cooperative’s margins during your membership. Your credits are based on how much energy you purchase during the year, and the gross margins by those purchases.
At the end of each fiscal year, the profits are allocated proportionately back to members’ accounts, until they’re retired (paid) back to you.
Frequently Asked Questions
- Allocations: Each year, you are “allocated” your portion of the previous year’s margin based on the amount of electricity you purchased from NEC Co-op Energy in relation to the total amount of electricity purchased by all members during the year. This amount is put into a “holding account” for a number of years and used by NEC Co-op Energy to fund capital needs related to your service. This is an underlying principle of the cooperative business model and is one more way we keep your electric rates as low as possible. This “allocation” becomes your equity in the cooperative and is maintained in a separate account assigned to you. View a sample allocation (PDF) statement online.
- Retirement: This is what you will get in cash at a later date. NEC Co-op Energy uses the amount “allocated” to you for a time, but then returns this amount to members in the form of “retirements,” which are actual “cash back” dollars to you.
Eventually, if NEC Co-op Energy cannot return the funds to the member, NEC Co-op Energy must give these “escheated” capital credits to the state comptroller.
- Receive detailed instructions letter (link is external)
- Complete Release & Waiver for deceased member (link is external)
- Gather certified copies of supporting documents below
- Death Certificate, and
- One of the following:
- Order admitting will to probate
- Small estate affidavit
- Return completed and notarized waiver, along with supporting documentation, to: Nueces Electric Cooperative, Attn: Capital Credits Clerk, PO Box 260970, Corpus Christi, TX 78426
If you wish to have NEC Co-op Energy personnel notarize the release (free), please call ahead to ensure that a notary public will be available. The completed Release and Waiver and a copy of the death certificate are needed to complete the capital credit transfer or estate retirement.
Additionally, each member’s un-retired capital credit balance can be viewed online using NEC Co-op Energy’s ebill system, a secure web site that allows members to view current and historical bills, pay a bill, change an address, and many other features. If you are not currently signed up for ebill, signup online today.
Real Pricing for Real People
"NEC Co-op Energy is different than your typical provider, especially with the reward programs that give me extra cash at the end of the year."
"We don’t really trust the gimmicks from other providers. We know how much our rate will be on our bill, and it usually ends up being lower than everyone else."
"My whole family uses NEC Co-op Energy. We've been members since the co-op started back in 1962! That should say something."
"What we want from a provider is simple: honesty and loyalty. NEC Co-op Energy has been that for Snoopy’s Pier. They’re honest, good people, and that’s what matters."
"We like NEC Co-op Energy because of the benefits: the bonus payments, our Veteran credit and a lower bill in December. Oh, and we love the annual dinner!"
Jerry & EvaLearn More
"They're more personable, providing one-on-one service to all the members."
John DavidLearn More
"With NEC Co-op Energy, I'm a member. I'm not just another number. And my bill really is lower than the other providers out there!"
"I've worked for a utility company. I know what to look for to find the best deals. And NEC Co-op Energy really is the best deal."
"I love the PowerPerks at the end of the year! That's my favorite."
"Their service is prompt, and I get to talk to people right away, not a recording. I've always had great customer service."
"I like supporting a non-profit. It feels good knowing my money is going back to the members, not a giant corporation."
"It's easy! The prices are always low and that there are no contracts."
"They're like a family. I rely on them to power my businesses and my home, and we've always had great service."
"If I need anything, I can just pick up the phone, call them and they're available for me. We know each other's first names!"