The Miami-Cass REMC board of directors has approved returning over $1.2 million to our members. This patronage was earned from 1940 to 1977.
Your electric co-op is almost 80 years old, and each year the board has reinvested the margins back into our system to improve reliability and keep our electric system running smoothly. It is now time for us to retire some of the margins used in the past to our members or to their heirs.
If you are still active with Miami-Cass REMC and purchased electricity from us in the years starting with 1940 and ending in 1977, you will soon receive a check from us to retire the patronage for those years. If you are a family member entitled to a deceased member’s capital credit, please contact our office. A list of the members we need updated contact information can be found at our website or you can visit it at http://mcremc.coop/content/capital-credits.
One of the cooperative principles is returning these credits to our members, and we look forward to providing your credit for the selected years.
Going forward, we will be sending checks to our inactive accounts that have been updated with current information. When we have those checks mailed, we will send post cards to members from 1940 through 1977 that may have the correct forwarding address. Once we have confirmation that the name and addresses are current, we will send out the accumulated credit from those years. If you are a current member and received electricity from us from 1940 through 1977, you do not need to contact us as a check will be sent to you.
Each year, the board of directors will decide if we will be retiring capital credits and the years being retired. This information will be posted in Electric Consumer and on our website.
If you have any concerns or questions, our member-customer service representatives will be happy to assist you in resolving your concerns and questions.