Capital Credits

When you signed up to receive electric service from Boone Power (formerly Boone REMC), you became a member, not just a customer, of an electric utility. While investor-owned utilities return a portion of any profits back to their shareholders, electric co-ops operate on an at-cost basis and as such, allocate and periodically retire capital credits, also called patronage, based on how much electricity each member purchased during a given timeframe.

To learn more about our most recent distribution of capital credits, check out our November 2025 Indiana Connection magazine issue.

If you are the lawful heir, beneficiary, or representative of the person or business to whom a capital credit check is addressed and you wish to claim the patronage,you will be asked to provide documentation, including a current photo ID, a death certificate and power of attorney documentation (if applicable), and if for a business, articles of incorporation listing the claimant as an officer of the entity. You can begin the claim process by clicking the button below.

Claim Patronage

Frequently Asked Questions

Member-owned, not-for-profit electric co-ops like Boone Power set rates to generate enough money to pay operating costs, make payments on any loans, and provide an emergency reserve. Each member’s payments to the cooperative are used to maintain our electric distribution system and keep the utility running. At the end of the year, we subtract operating expenses from the operating revenue collected during the year. The balance is called an operating “margin” and is used to finance needed infrastructure and system improvements. Because our members are also owners, the margins are returned to our customers when financial conditions permit.

Boone Power issues both distribution and generation & transmission patronage.

Boone Power is a distribution, or energy delivery, cooperative. When our financial condition permits, our operating margins are returned to members based on how much electricity members purchased in a given year or years.

Just like our customers are our member-owners, Boone Power is a member-owner of its generation and transmission cooperative (also called our wholesale power provider), Wabash Valley Power Alliance. We pass on wholesale energy charges to our members, so when Wabash Valley Power Alliance issues patronage to Boone Power, we can pass that along to our members as well.

We mail capital credits in the form of checks to those who were members during the timeframe for which the patronage is being issued, and for whom we have mailing addresses. That’s why it’s important to make sure you provide us with updated contact information, even if you move away from our service territory. We only issue capital credits that are over $5. If the amount owed to any member or former member is under $5, we will wait to issue a check until the amount owed to them is at least $5.

Each member is entitled to continue receiving capital credits. Please remember to notify the cooperative of all address changes to ensure prompt delivery of your refund. If patronage checks are returned to the co-op because they were sent to the wrong addresses, we publish the names of those whose checks are unclaimed in the local newspaper with the hope that those former members or their heirs will contact us and claim their patronage.

If you receive capital credits that are addressed to another person or business of which you are NOT the lawful heir, beneficiary, or representative, you should return the check to Boone Power by mailing it to P.O. Box 563, Lebanon, IN 45052 or dropping off at our office, located at 1207 Indianapolis Ave., Lebanon.

If you ARE the lawful heir, beneficiary, or representative of the person or business to which it is addressed and you wish to claim the patronage, you will be asked to provide documentation, including a current photo ID, a death certificate and power attorney documentation (if applicable), and if for a business, articles of incorporation listing the claimant as an officer of the entity.

To claim patronage, you must complete THIS FORM, which will ask you to attach required documentation.

If you have additional questions that are not answered here, please call us at 800-897-7362.

Capital Credits

Frequently Asked Questions

Payments & Bills

Quick Links

Resources

Frequently Asked Questions

What are capital credits?

Why does Boone Power issue capital credits?

What types of capital credits does Boone Power issue?

How often does Boone Power issue capital credits?

How are capital credits issued?

Do the checks expire?

What happens to my capital credits if I move outside of Boone Power’s service territory?

What should I do if I receive a capital credit disbursement with someone else’s name on it?

What should I do if I've lost my check?

Payments & Bills

Quick Links

Resources