May 5, 2020
YEC has launched a new voluntary program, called Give 5, allows cooperative members to help fellow members as hundreds in our area have lost jobs or seen their work hours reduced.
April 4, 2020
In an effort to help limit exposure to COVID-19, these community agencies have changed or suspended normal operating procedures:
- PATH – York – Suspended assistance with utilities until further notice
- CAA – Clover – Closed until 4/19/20
- FMCC – Fort Mill – Suspended assistance with utilities as no one is disconnecting currently
- CCA – Rock Hill – Must schedule an appointment with limited staff and funding
[PDF] Help Agency Update - COVID-19
20 KB 10 downloadsApril 3, 2020
YEC’s online bill pay systems will be unavailable Saturday, April 4th from 7:30 am until approximately 10 am so that our Accounting team can issue Capital Credit checks as soon as possible. During that time, Member Portal, smart app, and remote pay station payment processing will be down. To get money to our members sooner during this crisis, YEC will be returning Capital Credits to members a month early.
[PDF] YEC Capital Credits Explained
260 KB 28 downloads
For more information concerning Capital Credits, call our Member Services Department at 803-684-4248.
Capital Credits FAQ
As members of YEC, do we build equity in the co-op, and if we leave the area do we get a payout?
Capital Credits are a benefit of membership in a member-owned utility. Each year, YEC uses the revenues that exceed operating costs as equity. These funds and borrowed capital allow YEC to serve a growing number of members while implementing the latest technology to provide the best possible service. As a not-for-profit utility, YEC later returns these revenues to the members who originally paid them in his/her electric bills.
Each year, our members receive Capital Credit checks. Members will receive Capital Credit checks in the mail unless the amount due to them is less than $15. If the member’s refund is less than $15, the amount will be distributed and printed on their utility billing statement as a line item credit. The amount of Capital Credits returned is determined by total revenues received over expenses for the cooperative and your total energy billings for the year. They are paid periodically with board approval after review of YEC’s financial status.
If you leave YEC’s service area, your Capital Credits remain in your name and member number until they are retired. Therefore, you need to make sure YEC has your current mailing address.
What are Capital Credits?
York Electric is a cooperative. A cooperative is owned by its members and does not technically earn profits. Instead, any revenues over the cost of doing business are considered “margins”. These margins represent an interest free loan of operating capital by the membership of the cooperative. This capital allows York Electric to finance operations and, to a certain extent, construction. The utility then returns this capital to the members in later years.
How often will I receive an allocation notice?
You should receive an allocation notice each year after a financial audit of York Electric has been completed. During the month of May, members receive Capital Credit checks in the mail unless the amount due to them is less than $15. If the member’s refund is less than $15, the amount will be distributed and printed on their utility billing statement as a line item credit.
What do I have to do to start accumulating Capital Credits?
Capital Credits are calculated by York Electric for every member who purchased electricity during a year in which the utility earned margins. No special action is required to start a Capital Credit account. Your membership with York Electric activates your Capital Credit account.
How are Capital Credits calculated?
The amount of Capital Credits you earn in a given year is based upon the amount of electricity purchased. Each member receives a credit based on a percentage for each dollar of electricity purchased.
Will I receive a Capital Credits check every year?
Not necessarily. The board of trustees must authorize a refund before you receive a check. When considering a refund, the board analyzes the financial status of the cooperative and will not authorize a refund if it is not in the best interest of the membership.
Can I use the Capital Credits I have allocated to pay my electric bill?
No. Allocated Capital Credits may not be used to pay current bills. While your electric bill is due monthly, you will not be entitled to your Capital Credits until the board of trustees authorizes a refund. This will take place over many years, since York Electric needs the funds to grow.
What happens to the Capital Credits of members who die?
The representative of the estate can have the balance of Capital Credits transferred into the heir’s name and the balance will be paid out as the board of trustees approves refunds.
What happens to my Capital Credits when I leave York Electric’s service area?
Your Capital Credits remain in your name and member number until they are retired. You just need to ensure that York Electric has your current mailing address.
March 31, 2020
We understand the anxiety you may be experiencing around this evolving situation, so we have created this dedicated area to address your many coronavirus cooperative-related questions and provide resources for assistance and information well beyond our own backyard. As the crisis develops or new information needs to be disseminated, we will update this section; feel free to bookmark this page and visit often.
March 27, 2020
Like you, YEC is closely monitoring the evolving COVID-19 situation. We appreciate your patience as we continue to serve you and look out for your best interests during this crisis.
Services
We want to reassure you that our office procedures will not affect your electric service. Lineworkers are available to respond to outages, work will continue with service orders, bills will still be processed and mailed, and our members may speak to a YEC employee regarding any questions or concerns about their bill or service.
We also understand some members are experiencing unexpected financial circumstances right now. Can’t make a payment? Please give us a call so that we can help: 803-684-4248.
From late March until further notice, penalties for delinquent accounts will be waived. No penalties will be assessed and disconnections for nonpayment on all accounts have been suspended.
Although YEC will not be disconnecting any accounts during this crisis, we would like to remind our members to stay on top of their bills. Since you are still responsible to pay for the electricity you consume, remember to keep your balance manageable and communicate with us to create payment arrangements.
York Electric is giving money back to members again this year – early!
To get money to our members sooner during this crisis, YEC will be returning Capital Credits to members a month early. In April, we will return $2 million to members who received service in 1997, 1998 & 2018. Members will receive Capital Credit checks in the mail. If the member’s refund is less than $15, the amount will be printed as a line item credit on the electric bill. The amount of Capital Credits returned is determined by margins and a percentage of your total energy billings for the years listed above. Questions? Call 803-684-4248.
79th Annual Meeting suspended
Although unprecedented, the decision by your board of trustees to suspend our Annual Meeting is consistent with York Electric always putting safety first. The trustee election, bylaw changes, and cooperative business that should be done on May 9th will be handled when it’s safer for us to be together again. Stay in touch with YEC online and through social media to track updates and learn how our team is working to help flatten the curve of COVID-19.
Burrell Foundation pancake breakfast postponed
Originally scheduled for Saturday, April 4, 2020, at Fatz Café in Rock Hill, the Burrell Foundation Pancake Breakfast Fundraiser – a delicious meal served by YEC employees in support of a great cause – has been moved to August 15. Please stay tuned for further details.
Activities for kids at home
Spark interest in electric safety with #LearnwithYEC! We have some fun games and activities for young people that will help them learn about energy and energy efficiency.
We’re here for you
We are still able to serve our members in our drive through locations at both our York and Fort Mill offices, but we also urge you to use other methods to conduct your cooperative business. Please visit www.yorkelectric.net, try our YEC Mobile App, or call our member services team at 803-684-4248.
Our commitment to members runs deep. Your service matters to us because we work in the same community you do, and a lot of us get our power from the same place you do. The men and women who respond during an outage experience the same outages at their homes, too. We are real people, who value the same things as you do, answering the call to provide you with the safe, reliable and affordable energy you deserve. Enriching lives means helping our neighbors, our coworkers, our friends and family – you.
March 23, 2020
The lobby of the remote pay station in Rock Hill – at the Comporium office on Cherry Road – is closed, as well as our Fort Mill branch lobby; both are still accepting payments through the drive-thru.
March 20, 2020
York Electric Cooperative is happy to serve our membership. We are always looking out for you and our community, especially during a time of emergency and need.
Like other utilities in our area, YEC is postponing account disconnections for nonpayment until further notice to help our members. However, we urge our members to stay on top of their electricity use and their monthly bill. Please remember you will still be responsible to pay for the electricity you consume. Be sure to use our online arrangement system to manage your payments or reach out to our member services team for help if you are in a financial crisis.
As the threat of the new coronavirus, COVID-19, continues, York Electric Cooperative plans to close all outside member and public traffic to our office locations beginning Monday, March 23.
We will still be able to serve our members in our drive through locations at both York and Fort Mill offices but urge our members to use other methods to conduct their cooperative business. Try our free YEC Mobile App, use the Member Services Portal, or call our member services team at 803-684-4248.
We would like to reassure our members that our office procedures will not affect your electric service. Linemen will still be available to respond to outages, work will continue with service orders, member bills will still be processed and mailed, and our members will still be able to talk to a YEC employee regarding any questions or concerns about their bill.
Although no one at YEC has tested positive, we are following preventative measures to decrease the risk of spreading the virus. Thank you for your patience and understanding as we navigate the COVID-19 pandemic.
We are here to help and appreciate your cooperation and understanding as we navigate the effects of #COVID-19.
Protect Yourself from Scammers
Scams related to the COVID-19 outbreak are on the rise. York Electric Cooperative members should be on the lookout for suspicious email, phone calls, or persons impersonating business employees or charitable organizations.
Update Your Contact Information
By keeping your contact information up to date, you can take full advantage of the services York Electric Cooperative offers. If we don’t have the correct phone number and email address linked to your home address, it makes it much more difficult for you to report an outage.
If you are not sure we have your current phone number, mailing, and email addresses, please log on to our Member Services Portal to check your account and make any necessary updates, use this update form, or call our member services department at (803) 684-4248.
March 14, 2020
Please know your health and safety is always a priority here at your co-op, and we are closely watching the national and local responses to the current pandemic and following guidelines set forth by the Centers for Disease Control and Prevention (CDC) as well as our own common-sense measures.
To that end, we strongly suggest conducting your cooperative business here at yorkelectric.net, by texting 352667, or through our free YEC Mobile App. Social distancing is the top recommendation for individual virus prevention, so please take advantage of the ability to do as much of your routine business via the internet as possible.
When bearing in mind limited contact, remember we’re here for you by phone at 803-684-4248, there are payment drop boxes at all our locations, and you have the option to pay your bill by mail
We also have convenient drive-throughs at our main York and Fort Mill branch offices.
If you prefer to visit our offices, be aware that all transactions will be handled through the glass to keep our members and employees safe. We’ve also encouraged our staff to practice healthy hygiene and have taken extra precautions to keep our common areas clean. YEC employees have been advised to stay home if they exhibit any signs of illness and to see a doctor; we hope our members will follow the same advice.
We understand the anxiety you may be experiencing around this evolving situation. Please know we’re committed to being responsive and flexible to your needs and are available to you at any time as we navigate and adapt to the ongoing concerns surrounding COVID-19.
