MCREA Board of Directors Retires $4.5 Million in Patronage Capital; Issues Capital Credits Checks
Cooperative businesses like Morgan County Rural Electric Association differ from investor-owned utilities because we operate to serve the needs of our members, not to increase stockholder profits. A great example of this is when MCREA experiences greater income than expenses, called margins. Those returns, called patronage capital, are reissued to our members in the form of capital credits checks. In contrast, investor-owned utilities send their profits to their stockholders.
In October 2023, the Morgan County REA Board of Directors authorized patronage capital retirements totalling $4.5 million for a complete retirement of 2017 MCREA margin allocations, partial retirement of 2018 MCREA margin allocations, and partial retirement of 2004 Tri-State G&T patronage. This is the largest capital retirement in the history of Morgan County REA. If you were an MCREA member in any (or all) of those years, capital credit checks were mailed out the first week of December 2023 for your share of the margin allocations.
Unclaimed Capital Credits
It is not unusual for MCREA to have unclaimed or uncashed capital credits checks from our margin allocations. In some cases, letters containing refunds were returned due to lack of current address. We also have instances in which capital credits checks were never cashed.
Wondering if there are unclaimed capital credits under your name?
Search your name below to see if you have unclaimed capital credits. If your name is on the list, contact MCREA to provide your current address to ensure your capital credits check finds you. For information or questions, please call us at 970-867-5688 or email customerservice@mcrea.org.