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As a not-for-profit cooperative, Medina Electric Cooperative allocates margins to members and retires them as the financial position of the cooperative allows. It literally pays to be a member of Medina EC.
If you look on the back of the electric bill you got in December or January, you will notice a Capital Credit Refund. That is your share of the $1.5 million in capital credits retirement that the board of directors approved at their December 2018 meeting.
Each year, normally in November or December, the board of directors reviews the finances of the cooperative and determines what money needs to be reinvested in the system to ensure that we can continue serving members with reliable electricity and what capital credits money can be retired and returned to members.
Since Medina EC was formed, $27 million in capital credits has been returned to members.
There really is a difference in the cooperative business model. You get reliable, affordable electricity—and money back in the form of capital credits.
To learn more, visit MedinaEC.org/CapitalCredits.
To see a list of members with unclaimed capital credits, click here.