Rural Electric Convenience Cooperative may have some money for “lost” members. Margins earned in past years were allocated to member-owners who used electricity from RECC, as a share of the co-op’s equity. The margins were re-invested in RECC’s distribution system, and are eventually paid out to members as capital equity retirements.
Rural Electric most recently paid equity retirements for the year 1983, with nearly $344,000 sent to present and former members. Unfortunately, many past members have not provided up-to-date addresses, so their capital credit checks were undeliverable. “Those folks earned a share of the co-op’s equity in that year, and we want them to receive this retirement,” says President/CEO David Stuva. “They may also have equity payments coming up for other years, so we need their current addresses.”
To help locate these members, Rural Electric is listing unclaimed capital credits accounts on our website. The names and last known towns are listed for each account, and the amount of capital credits to be paid. If you recognize a name, you can let that former member know that they have unclaimed funds, or you might be able to pass along a new address or contact information for that person.