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We are pleased to announce two updates we wish to share with you:
- New Rebate Payment Options: From 2019, TECT is able to pay the rebate direct into eligible consumers’ bank accounts. Please see instructions on how to provide your bank account details below. This will not only make it easier for you to receive the rebate this year, but will also ensure all future rebates go straight into your bank account. Consumers also have the option to have the rebate credited to their Trustpower power account or donated to the Acorn Foundation Vital Impact Fund.
- One-Off Special Distribution: TECT has received a one-off special dividend from its Trustpower shareholding, and the Trustees have agreed to distribute this for the benefit of consumers. The distribution would be in addition to TECT’s regular annual rebate in November 2019. We have developed three potential distribution options targeted at making a long-lasting transformational difference in our community. We’re keen to get your feedback on these. Read below to find out more.
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Eligible consumers* now have the option to receive their TECT rebate direct into their bank account. There will be no more rebate payments via cheque.
There are three options available to receive the rebate:
- Rebate paid direct into bank account:
The rebate will be paid directly into your nominated bank account. You can provide your bank account details via the Trustpower website.
- Rebate credited to Trustpower power account:
The rebate will be credited to your Trustpower power account. This will be the default payment option if you do not make any choice on the Trustpower website.
- Rebate gifted to the Acorn Foundation Vital Impact Fund:
You can choose to have your rebate gifted to the Acorn Foundation Vital Impact Fund. This fund invests your donation, so that it continues growing over time. Interest earned from this investment is distributed each year to deserving community organisations, so your donation keeps giving to your community – forever. You will be issued a donation receipt from Acorn Foundation and will be able to claim a 33.3% tax credit – so you can give back and get back!
WHAT YOU NEED TO DO
To confirm your rebate payment option, go to www.trustpower.co.nz/tect
See step-by-step instructions below on choosing your rebate payment option.
If you are happy for the rebate to be credited to your Trustpower power account, you do not need to do anything.
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*Click here to view eligibility criteria
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TECT has received a special dividend of $21M from its Trustpower shareholding. In addition to TECT’s regular annual rebate, the TECT Trustees have agreed to distribute this unexpected windfall and want your feedback on how it could be distributed.
The current distribution policy is that approximately 80% of distributions are to go direct to eligible consumers, with the balance distributed through the grants programme.
However, this special distribution offers a unique opportunity to explore options that will make a transformational difference in our community. With that in mind, the Trustees have developed three potential options targeted at providing long-lasting significant outcomes in our community.
We’re keen to get your feedback on these. Check out the options below, or click here. |
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TECT consumers are invited to provide feedback on the three options via any of the contact methods below by 4.00pm on Monday 20 May 2019.
Web: www.tect.org.nz/feedback
Email: info@tect.org.nz
Mail: TECT, DX Box HP40007, Tauranga
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