Members’ Economic Participation is one of the seven universal cooperative principles. Capital credit refunds are an important aspect of this. Some members have unclaimed capital credits and the cooperative has published a list of those people at under ‘My Service’ on the ‘Capital Credits’ page.
You may be curious how capital credits work. They start out as revenue in excess of expenses, which is called margins. Because TCEC is owned by its members, we allocate our margins to the membership in the form of patronage capital. The allocation amounts are based on a formula that considers the amount of revenue paid to the cooperative by the member. Patronage capital reduces the amount the cooperative has to borrow because TCEC retains and uses patronage capital for operating capital. It is used until the financial condition of the cooperative, determined by TCEC's board of trustees, permits the co-op to issue a refund to the member in the form of capital credits.
TCEC mails a check to members for capital credits, which members should cash within 90 days. Even former members who have moved sometimes receive capital credit checks. If we do not have a current address for those former members, their checks will go uncashed and/or be returned to TCEC. At that time, they become unclaimed capital credits.
To claim capital credits once they are on the unclaimed list, members must complete the ‘Unclaimed Capital Credits’ form, have their signature on the form notarized and return it to the cooperative. For relatives of deceased members, a legal document is required along with the signed unclaimed capital credit form unless the decedents wish to close out the account through a prorated early retirement. There is a form for that on the website as well.
If you have questions regarding capital credits or contact information for any individuals on the unclaimed list, please contact us at 580.652.2418 or .