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Capital Credits

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  1. Capital Credits
  2. Capital Credits

Capital Credits

Capital Credits represent member equity in the cooperative.  

2021 Unclaimed Capital Credit List

Capital Credits

Freeborn Mower Electric Cooperative (FMEC) is owned and controlled by the members who use its service.  It operates according to a not-for-profit business model.  As a cooperative, any margin (revenue) remaining after all expenses have been paid, is returned to the members in proportion to their use of the cooperative's services, in the form of Capital Credits. This is called the Capital Credit allocation process.

Each year, the cooperative's board of directors determines whether the cooperative's financial position will allow for the return, (retirement) of the allocated Capital Credits and if so, the amount of the retirement. 

A member who terminates service with the cooperative, no longer receives additional Capital Credit allocations, however the balance in the member's account is maintained until it is retired in full.  It is important to notify FMEC of any address change until your account is depleted. In the case of a member's death, Capital Credits become part of the deceased member's estate.  Please contact our office for more information on Capital Credits. 

Unclaimed Capital Credits

By law, we must hold unclaimed Capital Credits for a period of seven years in order to allow people time to claim them.  After that period of time, we use unclaimed Capital Credits to fund scholarships or other nonprofit programs. If we did not use them for scholarship or non-profits, we would by statute, be required to give the money to the State of Minnesota.

We do our best to locate lost members.

 

 

Scholarships

The Board of Directors approved the 2021 general retirement of $861,000 in Capital Credits. 

- Capital Credits 
(507) 379-8860 | Email

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OUR OFFICE WILL BE CLOSED THE FOLLOWING HOLIDAYS:
Thanksgiving Thursday, November 24, 2022
Thanksgiving (Day After)  Friday, November 25, 2022
Christmas Eve Day Friday, December 23, 2022 (Observance of Christmas Eve)
Christmas Day Monday, December 26, 2022 (Observance of Christmas Day)
New Year's Day  Monday, January 2, 2023 (Observance of New Year's Day)  
2023 Holidays   
Memorial Day  Monday, May 29, 2023
Independence Day Tuesday, July 4, 2023
Labor Day  Monday, September 4, 2023
Thanksgiving  Thursday, November 23, 2023
Thanksgiving (Day After)  Friday, November 24, 2023
Christmas Eve Day Monday, December 25, 2023 (Observance of Christmas Eve)
Christmas Day Tuesday, December 26, 2023 (Observance of Christmas Day)
New Year's Day  Monday, January 1, 2024

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©2023 Freeborn Mower Electric Cooperative. All Rights Reserved.

  • COMMUNITY
    • Heartland Security
    • Links
    • Member Engagement Group
    • Northland Connect - Internet
    • Operation Round Up
    • Youth Tour
    • Scholarships
    • POLITICAL ACTION
      • Cooperative Action Network
      • Co-op Vote
      • Team Up For Action
      • ACRE: Co-op Owners for Political Action
  • OUTAGE INFO
    • Power Outages
    • Outage Center
  • REBATES
    • Rebates
  • MY COOPERATIVE
    • Annual Meeting
    • About Touchstone Energy
    • Careers
    • Capital Credits
    • Contact Us
    • Heartland Security
    • History
    • Privacy Notice
    • Statement of Non-Discrimination
    • About Us
    • Bylaws and Articles
    • BOARD OF DIRECTORS
      • Board of Directors
      • Director Elections
      • Electronic Voting
    • NEWS & INFO
      • News
      • Newsletter
    • SAFETY
      • Downed Power Lines
      • Electric Safety
      • Farm Safety
      • Safety Demonstration
      • Safety Quiz
      • Continuity of Service
  • SERVICES
    • ELECTRIC SERVICE
      • Line Clearance
      • Service Upgrade & Relocation
        • Disconnections & Reconnections
      • Call Before Digging
      • Vegetation Management
      • Who's Responsible?
      • New Construction
    • ENERGY SERVICES
      • Energy Audits
        • Home Energy Audit
        • Farm Energy Estimator
        • Touchstone Energy Guide
        • Links & Tools
      • Special Rates
        • About Special Rates
      • Compare Fuels
      • Financing
      • Energy Saving Guides
      • Electric Vehicle
      • Summer Shift
      • RENEWABLES
        • Evergreen Program
        • Interconnection Information
        • Utility Scale Solar
      • Load Control - C & I
      • Load Control - Residential
    • MEMBER SERVICES
      • New Member
      • Billing & Usage
      • Energy Assistance
      • Update Your Contact Information
      • Payment Options
        • Automatic Bill Payment FAQs
      • Bill Inserts
      • Outdoor Area Lighting
      • FORMS
        • Online Forms
        • Downloadable Information
      • Limited English Proficiency
      • Military Disconnection Protection