Capital credits represent patronage dividends which the board of directors of a cooperative, acting under statutory authority, has elected to allocate to its patrons, not in cash or other medium of payment which would immediately take such funds out of the working capital of the cooperative, but in such a manner as to provide or retain capital for the cooperative and at the same time reflect the ownership interest of the patron. The interest will be paid to the patron at some later date to be determined by the board of the directors of the cooperative.
ECE is trying to find current addresses for former members
ECE is trying to find current addresses for former members to refund unclaimed capital credits. If you know anyone listed here and have their current address, please contact us by calling 763-691-2001 or 1-800-254-7944, ext. 2001, and leave a detailed message.
Allocations
Allocated capital credits fund part of ECE's working capital. We use these amounts to help expand our electric system and meet other capital asset needs.
Retirement (payout)
Retirement is determined in the sole discretion of the cooperative's board of directors and is determined annually.
Most member-owners who have been members of the cooperative for more than one year will receive a capital credits payout in the form of a credit on their bill. Look for the "CAPITAL CREDITS PAYOUT" line item on your bill to find your share of the payout. The amount of the credit will reduce the amount due on your bill. For more information about capital credits please call 1-800-254-7944.
Keep us informed of address changes
If you move from the ECE service area, the capital credits you have accumulated remain with the cooperative. Please keep us informed of your current address so we can find you when a payout is issued.
Unclaimed capital credits donated to scholarship fund
In spite of our efforts to keep current addresses for past members, some checks are returned by the postal service without a forwarding address. In these cases we make several attempts to locate the member, or estate representatives, by placing the member's name on a listing in our newsletter. If after an extended period of time the member cannot be located, the capital credits amount is placed in a scholarship fund to be distributed to students within the East Central Energy service area who are furthering their education at an accredited school.
Returns of capital credits to estates or to dissolved corporations are provided on a discounted basis as established by the board of directors. Payment will be made to those persons entitled, such as personal representatives of the estate.
Before the account changes names, the sole survivor of the joint tenancy account has the option to either "cash out" capital credits at the present-day discounted rate, or transfer all the capital credits to their name.
If you have questions regarding Capital Credits, please call ECE at 1-800-254-7944 between the hours of 8 a.m. and 4:30 p.m. weekdays.