Capital Credits | OEC News

OEC board of trustees approves $2 million in capital credits to be paid to members from 2010

OEC’s board of trustees has authorized the distribution of over $2 million in capital credits to members of the cooperative who purchased electricity during parts of 2010.

“The issuing of capital credits each year truly highlights what a cooperative is,” said CEO Patrick Grace. “We’ve been working together since 1937 to provide an affordable, reliable service — capital credits signify what it truly means to come together for a common cause. Plus, we would much rather return dividends to the members we serve rather than far-off investors.”

Over 26,000 current and former members received a check in September.

What are capital credits?

Unlike investor-owned utility companies that strive to generate profits for shareholders, electric cooperatives like OEC operate on an at-cost basis. Any profits made by OEC – referred to as margins – are returned to the consumer-members. Capital credits represent these dividends.

What qualifies members to receive capital credits?

Capital credits are allocated to each member based on the amount paid to OEC over the years. Currently, we “retire” or issue capital credit checks on a 10-15 year.

What if those owed money are no longer members?

Some who were members in 2010 might no longer be members but are still owed capital credits. Please visit okcoop.org/capitalcredits and, if you see a name you recognize on the list who could’ve been an OEC member during 2010, please have that person submit the online form and any accompanying documents. All address updates must be received in writing.

If you see the name of a family member who is deceased and you are the rightful heir, you can download the form from okcoop.org/capitalcredits and return it along with the appropriate paperwork to transfer all remaining capital credits into your name.

I was a member in 2010 but didn’t receive a check

Checks were not issued for less than $25 unless a member has no further refunds due for future years. Refunds of less than $25 are retained until and added to the next distribution.

A full list of names – both individuals and businesses owed money – can be found at okcoop.org/capitalcredits along with appropriate forms. Mail paperwork and supporting documents to OEC, P.O. Box 1208, Norman, OK, 73070.

Share this article
a group of volunteers working together at a table

The ORU Report: Apr. 24 | OEC News

Discover how the OEC Foundation is transforming lives! Explore the remarkable impacts of their latest grants on veterans, children with autism, and more. Read about their ongoing initiatives

Read More »
light bulb in grass with flowers

Grow Summer Savings | OEC News

Unlock summer savings with OEC’s practical energy-saving tips. Discover simple actions that can lower your electricity bill and enhance home efficiency. Read more to learn how our community-focused programs can keep more money in your wallet!

Read More »
person mowing lawn with text "A Cut Above"

A Cut Above | OEC News

Revolutionize your garden with the latest electric lawn care tools! Discover quieter, cleaner and more efficient equipment that saves you time and energy. Learn more about the benefits today!

Read More »

Power Up | OEC News

Discover the crucial steps OEC takes to swiftly restore power and internet services after severe storms in Oklahoma. Learn how our dedicated teams work tirelessly to ensure safety and quick recovery, ensuring you’re back online and powered up in no time.

Read More »
Follow us!
Skip to content