Capital Credits
People's Cooperative Services (PCS) retired a total of $671,159 in capital credits in October 2011. With the cooperative being a non-profit organization, any profits or margins from previous fiscal years are allocated to members based on their portion of electric billings. Capital credits become a part of your capital investment in the cooperative.
PCS retired $504,704 this year and Dairyland Power Cooperative (DPC), our power supplier, retired $166,455. PCS retired four percent of its capital credits; 50% of which were based on retiring the oldest capital credits; the remaining 50% were retired on a percentage of the remaining years. PCS retires the DPC portion of capital credits to our members as DPC retires the dollars to us.
The minimum capital credit retirement applied to monthly bills was $5.00. If the retired amount was below $5 minimum, the amount will be added to future capital credits until the amount exceeds $5.
Checks were mailed to active members whose capital credit retirement amount exceeds $300 and also to individuals that are no longer members.
Over $7 million in Capital Credits have been returned to current and past members over the past 10 years.
With the membership receiving electricity at the cost of service, receiving equal ownership, and having direct input into the decision making process of the company—cooperatives are the most democratic form of free enterprise in the country.
Unclaimed Capital Credits Refunds
Capital Credits refund checks are mailed to former members at their last address on file with People’s Cooperative Services. And with every mailing, the U.S. Postal Service returns some of those checks as undeliverable. The following is a list of the names we have lost touch with and may be entitled to receive capital credits. Names on this list can claim their capital-credit refund by contacting our office at (507) 288.4004 or 800.214.2694 or by contacting us by email.
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