Below are answers to questions you may have about your Capital Credits check. We hope if you have any questions, they will be answered below. If not, please call us at 952.492.2313 or 800.282.6832.
What are Capital Credits?
At the end of each year, after all the cooperative’s bills have been paid and all
expenses considered, the amount of money left over is called a margin. Margins provide equity for the cooperative and are allocated to the members in proportion to their purchases of electricity during the year. Capital Credits are your share of the margin. Capital Credits are allocated annually to each member and are retired in accord with the cooperative’s bylaws.
Why did I receive this refund?
Minnesota Valley Electric Cooperative makes Capital Credit distributions on a first in, first out basis, meaning margins from 20 years ago are currently being paid out. If you received a check or have a credit on your electric bill, it is because our records indicate that you are eligible to receive a Capital Credit refund at this time.
Can I retire my Capital Credits early?
Members or former members who are age 70 or older can apply for an application to receive their capital credits at a discount.
What if I wish to donate my Capital Credit refund to Operation Round Up?
If you have received a refund check, simply endorse the check and send it to the cooperative, attention Darlene or Joan. Please indicate you wish to donate the refund to Operation Round Up. If you received a credit on your electric bill, please notify the MVEC that you want future refunds to be donated to Operation Round Up.
Is my Capital Credit allocation/retirement taxable?
We suggest you seek the advice of a tax professional for any specific questions regarding taxation.
How may I contact MVEC to speak with someone about this matter?
If you have questions regarding your Capital Credit refund, please contact Darlene or Joan at 952.492.2313 or 800.282.6832
