McLeod Cooperative Power Association is a not-for-profit, member-owned, electric utility.
That means you, not a group of private investors, benefit from any margins produced by the Cooperative.
MCPA has retired over $19 million in capital credits to members since 1935. Capital Credits are just one of many differences that set cooperatives apart from other utility business models.
What are capital credits?
Each member of our Co-op is a part-owner and is entitled to share in the financial returns of the organization. Investor-owned utilities return a portion of any profits back to their shareholders. Electric co-ops operate on an at-cost basis. This means that McLeod Co-op Power allocates 100 percent of its margins (revenue less expenses) to its members who purchased electricity during the year and retires (or pays back) those margins at a future date to those very members. We call those capital credit allocations. Between the years those margins are allocated and retired, the Co-op uses those funds as operating capital to help the Co-op pay debt and maintain the appropriate equity-to-assets balance.
Most years the Co-op is able to retire capital credits from previous years. The Board of Directors determines, based on the Co-op’s financial position, the amount of capital credits that will be paid out. Current members receive a credit on the bill they are sent in December. Those who are no longer members will receive a check in the mail.
Unclaimed Capital Credits
Each year, funds that were not claimed or returned by the Post Office are sent back to the Cooperative. We need your help locating the members that these unclaimed Capital Credits belong to. Any information you can provide regarding the location of these members is greatly appreciated. Those with information can call our office at 320.864.3148.
*Database can be searched by First Name, Last Name, City, or State.
You can also download the entire list of Unclaimed Capital Credits – published 7.18.23