comtech

January 2014

Dustin TrippCapital Credit Refund and Smarthub Introduction

Capital Credits

The most profound and distinct difference between electric cooperatives and other utility business structures is that electric cooperatives are not-for-profit organizations that are member-owned and member-controlled. Your Cooperative sets the electric rates high enough to cover the costs of providing service and at the end of the year, any funds that were collected above the cost of service are allocated to you, our members, in the form of capital credits.

These capital credits are retained by the Cooperative and used to build and maintain the infrastructure necessary to serve the members and service the long-term debt of the Cooperative. When the financial condition and cash position of the Cooperative permits, the capital credits are then retired and paid back to you, as members and owners.

I am pleased to inform you, as Cooperative members and owners, that your Cooperative's Board of Trustees approved the retirement and return of $1 million of Capital Credits to the members. The capital credits that were returned were from the years 1979 and 2011. This means that if you were a Cooperative member in either or both of these years, you should have received a check in mid-December for those capital credits.

SmartHub

SmartHub is the name of the new communications tool that is now in place for member’s use, providing more information than ever before on your computer, smart phone or tablet. SmartHub allows quick and easy access to perform functions including view your bill, pay your bill, schedule a future payment, review past payments, receive bill reminders, update your account and view daily and monthly electric use.

The SmartHub site can be accessed from your Cooperative’s website at www.seiec.com. After you click on the link for SmartHub, you will see an introduction to SmartHub explaining what members can do thru the system. Once you enter SmartHub, you will need to register and set up a secure password. Members that have already been registered for our previous e-bill site will use the same sign on information as before.

We’re also offering a free SmartHub app, which can be downloaded for Apple® and Android® mobile devices. Just click on the link to the Apple Store or the Android Market to begin this process or search for SmartHub at either location. After downloading the app on your mobile device or tablet, the installation will prompt you to find your electric cooperative. You can type in “SouthEastern Illinois Electric Cooperative” or just search through the list to find it. Once you have registered and loaded the app, the SmartHub button will allow quick access to your account. You can also set up features like notifications to receive alerts when your monthly bill is available, when an automatic payment has been made, and more.

SmartHub also allows your Cooperative to provide you with innovative solutions that assist you in analyzing your energy consumption. You can view graphs of monthly and even daily energy use for your account. This can help you evaluate your consumption patterns, compare energy use between different periods, understand your energy consumption and possibly learn ways to use your energy more efficiently.

SmartHub is a tremendous tool that provides members with many new features. We hope you will give it a try and enjoy the convenience and innovation that it brings.

 

See you next month and as always, "We'll keep the lights on for you."