Cooperatives operate under a unique business model – we are owned by the members we serve, and as a not-for-profit organization, MVEC focuses on operating at cost. When there is any margin over the cost to operate, the money is refunded back to the cooperative’s member-owners. In co-op terms, this is called Capital Credits.
Capital Credit Distribution
MVEC’s Board of Directors decide the method for determining which Capital Credits are returned. Capital Credit distributions are based on a first in, first out basis, meaning margins from 20 years ago are returned to members first.
Payment to Current Members
- Capital Credits are issued as a credit on your electric bill.
- If you have lived at more than one location within MVEC’s service area, your Capital Credits may be sent as either a check or placed as a credit on your electric bill.
Payment to Former Members
- Capital Credits are issued as a check. E-mail MVEC your forwarding address to info@mvec.net with “Capital Credits – Attention: Darlene or Joan” in the subject line. Include your complete address and telephone number. Your address will not be changed in our system until you receive a telephone confirmation from MVEC.
Estate/Senior Capital Credit Retirement
Each year the Board of Directors authorizes a specific amount of money for Senior/Estate Capital Credits at a discounted rate for members who are 70 years or older. Checks are processed within 30-45 days.
Unclaimed Capital Credits
These are funds the cooperative has tried to deliver to former or current members who have moved from their last known address or did not cash a check that was sent to them.
View alphabetical listings of unclaimed capital credits
Do you have more questions about Capital Credits? Read our Capital Credit FAQs.
Questions? For more information contact:
Darlene or Joan
952.492.2313 or 800.282.6832
info@mvec.net
