On Friday, August 7, 2020, Mid-Rivers Communications mailed capital credit checks totaling more than $1,057,000 to its cooperative members and patrons.
Receiving capital credit checks is just one of the many benefits of utilizing the services of a cooperative. A cooperative business is owned and democratically controlled by its member patrons. Any profit is distributed to patrons in proportion to their use, or “patronage,” of the cooperative's services. Mid-Rivers uses both the “first-in, first-out” and the percentage methods of distribution, to allow both new and past patrons the opportunity to share in the benefits of the cooperative by receiving capital credit checks.
Payment of capital credits is made only if the financial condition of the cooperative permits, as determined by the Board of Trustees.
Including the 2020 payment, Mid-Rivers has returned over $46 million in capital credits to its patrons.