On August 19, 2022, Mid-Rivers Communications released a payment of capital credits to the Cooperative’s members and patrons, with a capital credit retirement totaling approximately $1,074,000. The 2022 retirement is comprised of the remaining balance of the 1995 allocation and a portion of the 2021 patronage allocation.
Cooperative businesses are owned and democratically controlled by their members. Receiving capital credit checks is one of the many benefits of utilizing the services of a cooperative. 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, allowing both new and past patrons the opportunity to share in the benefits of the cooperative by receiving capital credit checks.
Retirement and payment of capital credits is made only if the financial condition of the cooperative permits, as determined by the Board of Trustees.
Including the 2022 payment, Mid-Rivers has returned over $53 million in capital credits to its patrons.