Capital Credits

As a not-for-profit electric cooperative, we believe in giving credit where credit is due, to the members who shape our co-op. One way we do this is through capital credits. Because Freeborn Mower Electric Cooperative (FMEC) operates at cost, we give back to our members rather than outside investors or shareholders.

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.