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Capital credits

Capital Credits

Unclaimed capital credits list

Cash back! As a member, you get the credits. 

What are capital credits? We belong to those we serve and as such we share profits back with the people we serve. We call these profits capital credits. Capital credits are your share of the cooperative's margins. Per MiEnergy's bylaws, the board of directors determines the amount of retirement each year based on the financial condition of the cooperative.


It is important to know two things about capital credits in order to understand how they work:

Allocations. Each year, members are "allocated"; their portion of the previous year's profit based on the amount of electricity they purchase from MiEnergy in relation to the total amount of electricity purchased  by all members during the year. This amount is put into a "holding account" for a number of years and used by MiEnergy to fund capital needs for items such as power line construction, transformers, inventory and other equipment. This is an underlying principle of the cooperative business model and is one more way we keep your electric rates as low as possible. This "allocation" becomes your equity in the cooperative and is maintained in a separate account assigned to you. 

Retirement. This is what members get in cash at a later date. MiEnergy uses the amount "allocated" to the member for a time, but then returns this amount to  members in the form of "retirements," which are actual "cash back" dollars to the member.


How are the capital credits returned?

In an effort to save on costs, MiEnergy returns capital credits as a refund to members' electric accounts. Inactive members receive a check by mail in October for amounts over $15. If the refund is less that $15 the amount will remain on the account and be carried over to next year's retirement. If you move please call MiEnergy to ensure your mailing address is up-to-date so future capital credits reach you.

For more information, please contact:

Kim Larson
Member Services Representative

How do capital credits work?

Track

MiEnergy tracks how much electricity you purchase and the amount you pay for it throughout the year.

Year End

Once year-end financials are complete, the co-op determines if there are excess revenues, called margins.

Allocation

MiEnergy allocates the margins to members as capital credits based upon their use of electricity during the year.

Local Decision

The board of directors decides to retire, or pay, the capital credits.

Notification

MiEnergy notifies members of how and when capital credit retirements are received.

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  • Home
  • Member Center
    • Paying your bill
      • Budget billing
      • SmartHub
      • How to pay your bill
    • About MiEnergy
    • Utility Scams
    • Your account
      • Capital credits
      • Complaint procedure notice- IA
      • Meter reading- Iowa
      • MyMeter
      • Rates
      • Forms
    • Energy assistance
      • Cold weather rule- MN
      • Customer rights & responsibilities- IA
      • LIHEAP- Iowa
      • Military personnel law- MN
      • RECare
  • Community
    • GreenTouch
    • Operation Round Up
    • Scholarships
    • Youth Tour
    • Economic Development
  • Electric Service
    • Cable locating
    • Easement confinement/release request form
    • Energy assessments
    • New electric service
    • Service Transfers
    • Outdoor lighting
    • State inspectors
    • Structure moving
    • Tree trimming
  • Programs and Products
    • Programs
      • Community Solar
      • Co-op Connections
      • Evergreen
      • Member-owned Generation
        • Iowa
        • Minnesota
      • Electric Vehicle Charging
      • Summer shift
    • Products
      • Security systems
      • Water heaters
  • Energy Efficiency
  • News & Education
    • News
      • News releases
      • MiNews
      • Annual reports
      • Bill inserts
      • Living with Energy in Iowa
    • Education
      • Renewable Energy
      • Grassroots/Legislative
      • Electric safety
      • Stray voltage guides
      • KidsZone