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Capital credit allocation notices distributed

May 25, 2012

The 2011 patronage capital credit allocation notices will be mailed to Lorain-Medina Rural Electric Cooperative members in early June.

The allocation notice always generate a lot of member questions. First and foremost, the allocation notice is NOT a bill.

The allocation notice shows the total amount billed to the member in 2011 and the amount of patronage capital credits that will be assigned to the individual member's capital credit account.

If the member listed on the allocation notice is deceased or if the member has moved, this is an excellent time to update the contact information to ensure capital credits can continue to be issued in a routine manner. Members should simply follow the instructions under "Important Information" outlined in the allocation notice.

The cooperative is not-for-profit. Its rates are designed to cover the cooperative's operating costs, provide working capital for new construction, equipment, system improvements and making loan payments.

The cooperative has been refunding a percentage of patronage capital credits each year since 1982. LMRE has refunded more than $16.57 million. The cooperative expects to continue refunding capital credits in December.

For more information regarding capital credits view the Capital Credits page.