Capital Credits

Capital Credits Explained

As a member of Northeast Oklahoma Electric Cooperative (NOEC), you can take pride in knowing that your cooperative is always working to improve your investment.

Capital Credits are 1 of the many benefits of cooperative membership.

What Are Capital Credits?

• Capital Credits are the money left over at the end of a business year once all operating expenses have been paid.
• The remaining amount is allocated to member-owners of the cooperative.
• Members begin accumulating patronage capital with their first kilowatt-hour of usage.
• These funds are allocated yearly to each member’s patronage account based on their energy use.

How & When Credits Are Returned

After ensuring the cooperative’s financial stability won’t be compromised, the Board of Trustees may authorize the retirement (refund) of a portion of patronage capital in a manner consistent with the bylaws.

$10 Check Minimum

• Members with patronage capital balances of less than $10 will not receive a check.
• These small amounts are reserved and accumulate over time with each annual retirement.
• When a member’s balance reaches $10 or more, a check will be issued during that year’s general retirement.

Check the Recipient List

NOEC members are entitled to a portion of any profit made by the cooperative.

As approved by the NOEC Board of Trustees, refund checks were mailed to members in September 2024. These checks represent the following patronage capital retirement:

• 1990 and 2023 patronage totaling $1,350,000
• Only checks totaling $10 or more were mailed to eligible members.
  • Accounts with totals under $10 will continue to accumulate funds until they reach the minimum for payment.
  • When an account reaches $10 or more, a check will be issued with the next retirement.

Keep Your Address Current

NOEC makes every effort to ensure members receive the patronage capital that is rightfully theirs.

Returned checks marked “undeliverable” often happen because the mailing address is outdated or does not include the correct 911 address.

Please make sure your contact information is up to date so you don’t miss your check.

Unclaimed Capital Credits Search