Capital Credits: Over $856,000 to be returned to members in '19
Be on the lookout for 2019 capital credits, applied as an energy credit in May!
This year's capital patronage shares will be applied to members' accounts as an energy credit. The energy credit will be applied to billing statements generated in May (see "General Retirement Credit" line). As you receive your dividend, we hope that you are reminded of the unique benefits that members of electric cooperatives enjoy.
As a member-owner of Mid-Ohio Energy Cooperative you have distinct advantages over customers of other types of utilities.
You receive electric service at cost, and any margins, or excess revenues, the cooperative makes is allocated back to you as capital credits. The amount credited to you depends on how much electricity you used that year, or your patronage. We first use the money as working capital, investing it in new poles, wire, transformers, substations, and other infrastructure, in order to provide a reliable supply of cost-effective electric power. Those credits are then retired — or paid back — to you as it is financially feasible.
In 2019, Mid-Ohio Energy Cooperative is returning $856,000 in patronage capital back to members. In true cooperative fashion, the benefit goes back to the membership!
Receiving capital patronage is one of the unique benefits of being a cooperative member. Its sets cooperatives apart from for-profit utilities and that is why those who receive service from us are called “members” not “customers”. Without our members, there would be no Mid-Ohio Energy Cooperative.
Estates: The spouse or executor of a deceased member may request full payment of the deceased member's designated patronage allocation. To request payment of patronage capital to an estate, please visit our offices to submit an official request. Please bring a copy of the member's death certificate and any executor papers.