MCREA Retires $2 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 the profits of stockholders. For example, when MCREA experiences greater income than expense (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 November, 2017, the Morgan County REA Board of Directors authorized patronage capital retirements totaling $2 million for a complete retirement of 2001 and 2002 MCREA allocations, along with a complete retirement of 1996 and 1997 and partial retirement of 1998 generation and transmission margin allocations. This is the second straight year that the MCREA Board of Directors has returned $2 million to the membership. If you were an MCREA member in any (or all) of those years, you should have received a capital credits check for your share of the margin allocations in December, 2017. If you did not receive a check in December, and you were a Morgan County REA member in any or all of those years, please click here for more information about unclaimed capital credits.