As a non-profit cooperative, PREMA allocates its annual operating margins, or profits, to members receiving service during the year. These margins (revenue in excess of expenses) are based on member patronage and are called capital credits. They are used by PREMA for operating funds and paid back to the members as the financial conditions of the cooperative will permit.
Members are notified of the balance of their capital credits, after PREMA's annual audit, with an allocation statement. Your capital credit balance does not represent cash, but rather equity in our cooperative and cannot be used as payment toward your bill.
Each September, if the financial conditions are met, PREMA issues checks in a general retirement equal to 1/25th of the total Patronage Capital account to those who were on the system for the years being paid.
Should you ever move from PREMA’s territory, please keep us informed of your current mailing address as this will assure you of receiving your capital credit payment.
If you have any questions, please contact PREMA's Billing Accountant.