Skip to main navigation.

Capital Credits

Capital credits are at the heart of the cooperative difference and one of the many benefits of your membership. Mid-Carolina Electric Cooperative operates as a not for profit business – meaning we operate on just enough to run the business.  We don't exist to earn a profit, we exist to serve you, our members. Investor-owned utilities, on the other hand, maximize profits with the purpose of paying dividends to their stockholders.  MCEC members—not stockholders—are owners.

Capital credits represent your ownership in MCEC.  When you pay your monthly bill, we in turn pay all the expenses associated with running the cooperative – any funds left over are called margins. Your allocated share of the Cooperative's margins are based on the amount of electricity you purchased during the years you received service. These credits are held in reserve for a period of time and used for plant expansion and system improvements to allow MCEC to better serve you. Depending on the financial condition of the cooperative and the requirements of its primary lending agency, this money may be returned to you.  Any allocated amounts will appear on your March billing statement.    

Each year, your Board of Directors carefully considers the financial condition of the cooperative and makes the decision to authorize a capital credit retirement. The retirement is the process in which MCEC refunds a portion of your allocated capital credits back to you.

In 2019, MCEC began retiring Capital Credits using a hybrid retirement method.  A portion of the retirement will be refunded based on your allocation for 2019 and a portion will be based on allocations for 2009.

If you purchased electricity from Mid-Carolina Electric during the years approved for retirement, you will receive a capital credit refund.  There are several possible ways you will receive your refund. If you have an active account and pay electronically with MCEC, you will receive a bill credit for the entire retirement amount.  If you have an active account and do not pay electronically, you will receive a bill credit if the retired amount is $100 or less, otherwise you will receive a check.

Stay in Touch

If you move, be sure to provide your forwarding address. We will send future capital credit statements and, if the Board retires capital credits in the future, checks to your last known address in our system.


You do not normally have to report your Capital Credits payment on your income tax return. However, if you have any questions concerning tax liability, consult your tax preparer.

Unclaimed Capital Credits

Mid-Carolina Electric Cooperative is trying to locate former members with unclaimed capital credits.  Members were mailed a capital credit check(s) and the check(s) was either not cashed or returned to the cooperative by the postal service.

Please click here to see if we are holding unclaimed capital credits for you. If your name appears on the list, please submit a Claim Form by clicking here. Businesses that need to claim credits will also need to fill out this form.

Unclaimed capital credits are subject to an administrative fee of $5 per month for each account.

For more information, please contact Member Services at 803-749-6400.

Powered by Touchstone Energy Cooperatives Logo