Capital Credits

The return of patronage capital credits is just one of the many ways that electric cooperatives are set apart from other utility providers. One of the seven cooperative principles is the operate on a not-for-profit basis by returning any net savings to members on the basis of patronage.

Refunding of patronage capital credits is usually reviewed and authorized by the Lorain-Medina Rural Electric Board of Directors at their November meeting. If a refund is authorized, refunds will then be issued to current and former eligible members in December.

Unclaimed Capital Credits List

Revenue generated throughout the year is used to cover the cooperative's cost of power, loans, new and existing services, maintaining existing lines and other cost associated with the distribution of power and maintenance service. Any money left over at the end of the year is considered margins. These margins are allocated and credited to each member as patronage capital credits and based upon their purchases, or patronage, with the cooperative.

The cooperative retains margins to provide working capital for new construction, equipment and system improvements. For each year the cooperative retains margins, money is allocated to the member. After considering the cooperatives financial condition, the nine member board of trustees sets the amount of the refund. Typically, the amount of the members patronage capital credit allocation will gradually increase each year based on how long the member has been with Lorain-Medina Rural Electric and how much electricity they consume.

Any patronage capital credit refund to a current member of $99.99 or less will appear as a credit on the member's December electric bill. Members receiving refunds of $100 or greater will continue to receive a check in the mail in December.

For more FAQs click here.

Change of Address

Please be advised that all capital credits update requests must be submitted to the cooperative in writing by mail, e-mail, or fax.

Mail to:
Lorain-Medina Rural Electric Cooperative,
Attn: Capital Credits
1 Cooperative Way
Spencer, OH 44275

Fax to: (440) 647-4870

To request a change of address by e-mail, please use the form below:

First

Middle

Last

Telephone

E-mail Address

Previous Mailing Address

Address

Address 2

City/Town

State/Province

ZIP/Postal Code

Current Mailing Address

Address

Address 2

City/Town

State/Province

ZIP/Postal Code

Additional Information

Estate Information

If you are the surviving spouse of a cooperative member, please forward a photo copy of the death certificate along with your full name, last 4 digits of your social security number and current mailing information to the address listed below.

If there is no surviving spouse, the cooperative requires a photocopy of the death certificate and a copy of the Executor's Letter of Authority to be submitted prior to forwarding an estate application for your completion.These documents should be forwarded to the address below.

Mail to:

Lorain-Medina Rural Electric Cooperative
Attn: Capital Credits
1 Cooperative Way
Spencer, OH 44275

FAQ

A: Capital credits refunds of $99.99 or less will be credited to active members' December electric bill. Capital credits refunds of $100 or more will be mailed as checks to active members in December. All capital credit payments to prior members will be mailed in December. To assist members experiencing financial hardship during the 2020 COVID-19 epidemic, the Board of Directors voted to refund capital credits early, in May, rather than waiting until December for that particular distribution.

A: Capital credits are each member's share of the margins determined by how much electricity was purchased during the year and the rate under which the member was billed. The return of capital credits sets electric cooperatives apart from other utilities. One of the seven cooperative principles is to operate on a not-for-profit basis by returning any net savings to members on the basis of their patronage.

Unclaimed Funds List

Lorain-Medina Rural Electric Cooperative is attempting to locate the following people (or their heirs) who received service from the cooperative prior to 2019. Patronage capital refund checks were mailed to the following people listed, but the checks were returned to Lorain-Medina Rural Electric as undeliverable or were never cashed.

The cooperative is aware that many of the former members listed are deceased. However, we are looking for surviving family members who are eligible to receive the capital credits check. Due to the federal privacy regulations "Red Flag Rules," the cooperative can only provide account information to the member, surviving spouse or legally-documented fiduciary (executor or trustee). If this is the case, please forward your Letter of Authority and a photocopy of the death certificate to the cooperative's office.

Mail to:

Lorain-Medina Rural Electric Cooperative
Attn: Capital Credits
1 Cooperative Way
Spencer, OH 44275

If you need to update your address, please visit "Change of Address" form to submit your information. All address change submissions must be in writing or sent electronically.

According to the cooperative's Code of Regulations, this list must be published twice. If the cooperative is not able to locate these people within 60 days of the second notice, the member will relinquish rights to the funds.

Click here to view the most up-to-date list of Capital Credits Unclaimed Funds

Updated 8/4/2025

Capital Credits

Change of Address

To request a change of address by e-mail, please use the form below:

Estate Information

FAQ

Unclaimed Funds List

Location

Hours & Contact

Quick Link

What are patronage capital credits?

How are patronage capital credits returned?

Patronage Capital Credit Refunds

Change of Address

To request a change of address by e-mail, please use the form below:

Location

Hours & Contact

Quick Link