The Cooperative Difference
Supporting an electric cooperative means supporting a local business, powered by locals just like you. And in the case of Wise Electric, this includes over 75 years of working in the community and understanding the community’s needs. As members of the community ourselves, we put the needs of the community first and our members before that. This includes recognizing the value of our members and giving them a voice in business decisions.
Members of a cooperative can rest assured that their interests are a priority. Cooperatives are not driven by profits, so our first and foremost goal is providing safe, reliable and affordable electricity for our members. We work hard to facilitate a better quality of life for our members and strive to embody the seven principles of a cooperative. Learn more about them at the link below.
About Us ›
Patronage Capital (Capital Credits)
Patronage Capital in Connection with Furnishing Electric Energy
Wise Electric is a non-profit cooperative established in 1938 for the purpose of electrifying large unpopulated rural Counties requiring large amounts of capital. Wise Electric is owned by its members/customers and therefore the membership is the stockholders and entitled to any margins or profits. Due to the structure of a rural cooperative and need for funds while keeping rates affordable, Wise Electric’s operations are conducted so the membership will through their patronage furnish capital for the Cooperative. In order to induce patronage and to assure that the Cooperative will operate on a non-profit basis, the Cooperative is obligated to account on a patronage basis to the members all profits in excess above operating expenses related to the furnishing of electric energy. Wise Electric acknowledges that this patronage capital received from the membership is to be used for capital and that the cooperative is obligated to pay by credits to the capital account of each member all margins in excess of operating cost and expenses. The Coop will keep records so at the end of the year the amount of the capital credit, if any, by each member is clearly reflected and credited to their account as capital credits.
At any time the Board of the Cooperative determines the financial condition of the Coop and as long as the Cooperative will not be impaired, the member’s capital credits may be retired or paid ether in full or partial payment. These capital credits are paid in order of priority according to the year in which the capital was furnished. Wise Electric has been retiring or paying these credits accordingly and have retired all capital credits up to 2000. These credits are applied to current member’s bill around December or a check is issued to members who no longer have an account.
Just as members own Wise Electric, Wise is a member of Brazos Electric that provides Wise and other Cooperatives with energy through transmission services, Brazos is non-profit just as Wise is and provides capital credits in the same fashion. Brazos has retired or paid these credits out to Wise Electric and Wise has passed these credits on to its membership paying Brazos credits through 1982.
If you have any questions concerning Capital Credits please contact the main office.
Texas Coop Power Magazine
Every member of Wise Electric gets a free subscription to the award-winning Texas Coop Power Magazine. Each issue covers the best of Texas culture, from recipes to travel destinations and more. You’ll also find updates from Wise Electric about services, events and the community. The monthly Member Market is your chance to browse goods and services available from other members of the Wise community.
Texas Coop Power also hosts an online community for browsing recent issues, reading regional news and discovering delicious food with a Texan flare. But don’t take our word for it, take a look for yourself:
Reliable electricity isn’t the only thing we provide for our members. Members have access to the following additional services through Wise Electric:
Rheem Marathon® Water Heaters – Marathon water heaters are the longest lasting and most energy efficient heaters on the market. Six-month interest free financing is available to members in good standing with the cooperative.
Storage Buildings – Storage facilities located behind the Wise Electric office in Bowie are available for rental by cooperative members.
For rates and more information about individual services, please contact us.