Homer Electric Association, Inc. (HEA) will no longer accept MasterCard debit/credit cards as a form of payment, beginning January 1, 2016. The decision was made after considering several options to reduce the expense incurred by HEA in processing credit cards.
Currently, HEA accepts credit cards (Visa and MasterCard) as a form of payment without charging any fee to the member. The costs associated with this service amount to over $400,000 per year for the cooperative. While approximately 40 percent of HEA members use a credit card to pay their electric bill, the costs are spread out across the entire membership.
In reviewing the costs associated with accepting credit cards, it was determined that MasterCard transactions account for 58% of HEA’s total credit card fees, but only 17% of all credit card payments.
By no longer accepting MasterCard, HEA expects to realize substantial savings.
The decision will affect approximately 1,800 HEA members who currently use MasterCard to make a payment. Those members who are currently using MasterCard to make a recurring HEA payment will be notified by mail of the new policy so they can make necessary arrangements to convert their method of payment.
While continuing to accept Visa as a form of payment, HEA offers several other forms of payment including:
- Electronic Bank Draft: HEA will automatically deduct your bill from your designated bank account each month. No checks to write or payments to submit. Call or stop by an HEA office with a voided check or download an application to mail into the office to sign up.
- EasyPay Online: At homerelectric.com you can look up your account, view your bill/usage history and pay your bill with a Visa card online or with an e-Check. This password protected option provides convenient and around the clock access to your account information. First time users: Please contact HEA for an access password.
- Pay by Phone: Save time and postage by making a payment by phone. This service is available 24/7 and all you need is your account number.
- Pay in Person: Stop by our cashier station or payment kiosk at either of the two HEA offices, open 8:00 a.m. to 5:00 p.m., Monday through Friday (except holidays). Payments are accepted in the form of cash, check, e-check, money order, or Visa debit/credit card.
- HEA Drop Box: Drop your payment in the drop boxes located at HEA offices in Homer or Kenai.
- Mobile App: Download HEA’s app today and login to your account, check your balance, history and pay your bill. You also have access to HEA contact and outage information.
- Budget Billing. Simplify your bill paying and even out your electric payments by paying the same amount in December as you do in June with Budget Billing. Enrollment is in March, April and May.
If you have further questions or need assistance with your electric account, please contact Homer Electric’s member services department.