Mid-Rivers Pays Out Nearly $4 Million in Capital Credits
September 8, 2021 | View PDF
On Aug. 20, Mid-Rivers Communications released its largest payment of capital credits in the Cooperative’s history to members and patrons, with a capital credit retirement totaling nearly $4 million. The higher retirement amount was made possible by the gains from the 2020 sale of the Cooperative’s wireless operations.
Cooperative businesses are owned and democratically controlled by their members. Receiving capital credit checks is one of the many benefits of utilizing the services of a cooperative. Any profit is distributed to patrons in proportion to their use, or “patronage,” of the cooperative’s services. Mid-Rivers uses both the “first-in, first-out” and the percentage methods of distribution, allowing both new and past patrons the opportunity to share in the benefits of the cooperative by receiving capital credit checks.
Retirement and payment of capital credits is made only if the financial condition of the cooperative permits, as determined by the Board of Trustees.
Including the 2021 payment, Mid-Rivers has returned over $51 million in capital credits to its patrons.