{"id":95563,"date":"2017-11-20T08:12:45","date_gmt":"2017-11-20T13:12:45","guid":{"rendered":"https:\/\/www.thevwindependent.com\/news\/?p=95563"},"modified":"2017-11-20T08:12:45","modified_gmt":"2017-11-20T13:12:45","slug":"midwest-distributing-patronage-payments","status":"publish","type":"post","link":"https:\/\/thevwindependent.com\/news\/2017\/11\/20\/midwest-distributing-patronage-payments\/","title":{"rendered":"Midwest distributing patronage payments"},"content":{"rendered":"<p><em>VW independent\/submitted information<\/em><\/p>\n<p>ST. MARYS &#8212; This month, Midwest Electric is distributing $1.286 million in patronage capital payments to 7,326 current and former members. Eligible electric cooperative members will receive the refund either as a credit on their electric bill, mailed around November 21, or as a separate check in December. Patronage capital is the cooperative\u2019s margins, or money left, after all bills have been paid.<\/p>\n<p>Midwest Electric uses these margins for capital investments, such as building or replacing power lines, transformers, and other electric system investments.<\/p>\n<p>After being used as working capital, the money is returned to members as patronage capital refunds. It represents each co-op member\u2019s ownership &#8212; or equity &#8212; in his or her cooperative. Patronage capital is allocated to members in proportion to the dollar amount of electricity used.<\/p>\n<p>This month\u2019s payment will go to those of you who used Midwest Electric\u2019s service in 2000 and 2001. It represents one half-year of 2001\u2019s margins and the final half-year of 2000\u2019s margins. A typical residential member from those years will receive a bill credit of about $131.<\/p>\n<p>This patronage capital retirement demonstrates that Midwest clientele are not just customers &#8230; they are members and part-owners of their electric cooperative. They have equity ownership in its physical assets &#8212; and receive a financial return on those assets. Since 1955, Midwest Electric has returned nearly $28.7 million in patronage capital to its members.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>VW independent\/submitted information ST. MARYS &#8212; This month, Midwest Electric is distributing $1.286 million in patronage capital payments to 7,326 current and former members. Eligible electric cooperative members will receive the refund either as a credit on their electric bill, mailed around November 21, or as a separate check in December. Patronage capital is the [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[3],"tags":[],"class_list":["post-95563","post","type-post","status-publish","format-standard","hentry","category-news"],"publishpress_future_action":{"enabled":false,"date":"2026-08-02 01:52:26","action":"change-status","newStatus":"draft","terms":[],"taxonomy":"category","extraData":[]},"publishpress_future_workflow_manual_trigger":{"enabledWorkflows":[]},"_links":{"self":[{"href":"https:\/\/thevwindependent.com\/news\/wp-json\/wp\/v2\/posts\/95563","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/thevwindependent.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/thevwindependent.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/thevwindependent.com\/news\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/thevwindependent.com\/news\/wp-json\/wp\/v2\/comments?post=95563"}],"version-history":[{"count":0,"href":"https:\/\/thevwindependent.com\/news\/wp-json\/wp\/v2\/posts\/95563\/revisions"}],"wp:attachment":[{"href":"https:\/\/thevwindependent.com\/news\/wp-json\/wp\/v2\/media?parent=95563"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/thevwindependent.com\/news\/wp-json\/wp\/v2\/categories?post=95563"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/thevwindependent.com\/news\/wp-json\/wp\/v2\/tags?post=95563"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}