Below is a list of abandoned Capital Credits (uncashed after 14 months). If you find your name on the published list, please contact Member Services at 761-9300 to update your contact information and coordinate payment of your Capital Credits.
Capital Credits are assigned each year to members in proportion to the amount of electric service they purchase. Money remaining after satisfying yearly expenses in meeting co-op objectives is either invested in lines and equipment or returned to the members as capital credits.
Between the time capital credits are assigned to individual members and the time they are paid, MEA uses the money to maintain and improve lines and other facilities, which helps keep rates reasonable.
Key Facts about Capital Credits
- Subject to financial conditions, some capital credits may be retired, or paid back, to members each year.
- Annual capital credit retirements are first applied to any balance a member may owe that is delinquent or has been written off. Any capital credit balance remaining is returned to the member.
- Each year members receive an important notice showing the total amount of capital credits in their account.
- If changes occur in the ownership of a business, MEA must be notified to update the record and assign a new membership number. Failure to do so could result in capital credits being allocated or paid to former owners of a business or to a dissolved company.
- MEA must also be notified of changes in joint memberships, or changes that occur due to marriage, divorce, separation or death. Failure to do so could result in capital credits being paid to an incorrect individual or sent to an incorrect address.
- If a member leaves our service area, his or her capital credits remain on the books until their capital credit allocations are paid back in full. It is important that former members keep MEA informed of address changes.