Mid-Rivers Returns Over $1 Million in Capital Credits to Patrons
August 28, 2019
On Friday, August 23, 2019, Mid-Rivers Communications mailed capital credit checks of $1,042,000.00 to its cooperative members and patrons. The 2019 distribution of capital credits includes 17% of the remaining unretired balance for the year 1994, as well as 5% of the 2018 patronage allocation.
Receiving capital credit checks is just one of the many benefits that comes with utilizing the services of a cooperative. A cooperative business is owned and democratically controlled by its member patrons. 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, to allow both new and past patrons the opportunity to share in the benefits of the cooperative by receiving capital credit checks.
Payment of capital credits is made only if the financial condition of the cooperative permits, as determined by the Board of Trustees.
Including the 2019 payment, Mid-Rivers has returned approximately $43.7 million in capital credits to its members.