In May 2017, we returned $1,124,765 by mailing 14,487 capital credit checks to members. Those dollars reflect the returns on electric use and margins from the last half of 1989 and the first half of 1990. The total refund during the past 21 years is over $12.8 million. Each year profits, margins over and above our operating costs, are allocated to our members' accounts in relation to the amount of electricity they use. When the financial position of the cooperative allows, the board directs the distribution of those credits in the form of cash - one distinct advantage of belonging to a cooperative.
Unclaimed Capital Credits . . . Lost Money!
Help us find these past members.Crow Wing Power is looking for previous members that we haven’t been able to locate to give them their capital credit distributions. We have a list of about 8,500 people that have moved and not given us current address information. Therefore, when we send capital credit checks, like we normally do each spring, some checks get returned to us and others may simply go uncashed. We call those unclaimed capital credits. By law, we need to hold those funds for a period of seven years in order to allow people to claim them and after that period of time, we release them, normally to further students higher education. Each year $50,000 to $70,000 in unclaimed capital credits goes to scholarships for college attendance.