Medina Electric Cooperative reaffirms its commitment to its members by announcing the return of $2.05 million in capital credits. The decision was made during the board of directors' meeting in November, reflecting the cooperative's dedication to its cooperative business model and the well-being of its members.

Capital credits are integral to the cooperative business model and are earned by members based on their electricity usage. They represent the member's share of the cooperative's margins during their membership tenure and serve as an interest-free loan of operating capital until retirement. As a not-for-profit entity, Medina EC returns excess capital to its members based on the cooperative’s financial condition.

Medina EC Board President Kenneth White stated, “At Medina EC, we understand the impact that our decisions have on the lives of our members. Returning $2.05 million in capital credits is a testament of our commitment to our members and our cooperative principles.”

Current members who had electric service established prior to 2023 will see the credit applied to their December energy bills. Past members eligible for a credit of $5 or more will receive a check by mail.

Members who have had an address change are encouraged to contact Medina EC at 1-866-632-3532 or by emailing info@medinaec.org. It is crucial to keep the cooperative informed of any address changes, even after closing an account, to facilitate the delivery of capital credits checks. Individuals suspecting unclaimed capital credits can conveniently search for their names at MedinaEC.org/CapitalCredits.

Over the past 85 years, Medina EC has distributed approximately $40 million in capital credits to its members. This practice distinguishes cooperatives from many other utilities, emphasizing the cooperative's commitment to community and shared prosperity.

For additional information about Medina EC and capital credits, please visit MedinaEC.org/CapitalCredits.