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CAPITAL Credits


OEC prepares to pay $5 million in capital credits to co-op members


O


EC’s board of trustees has authorized the distribution of over $5 million in capital credits


to members of the cooperative who purchased electricity during the years of 2006 and 2007. More than 28,800 current members


and 6,600 former members are set to receive a check when they are mailed in August, given no major expenses occur – like a tornado or ice storm – between now and then. Capital credits are somewhat similar


to the dividends paid to shareholders of investor-owned utilities, except the co-op’s “shareholders” are the members it serves, and the “dividends” are the capital credits.


Despite a diligent effort to notify


former co-op members, there are more than 3,000 who still need to update their addresses in order to receive their capital credits. If you see your name on the list of names on the following pages and you were an OEC member during the years listed, please fill out and return the form below. All address updates must be done in writing. If you see the name of a family


member who is deceased and you are the rightful heir, you can complete the form on page 23 and return it along with the appropriate paperwork to transfer all remaining capital credits into your name. Te average capital credit refund


will be $100. However, checks will not be issued for less than $25 unless a member has no further refunds due for future years. Refunds of less than $25 are retained until and added to the next retirement. Te list of names printed in this magazine is of former members who have not verified their current address. Due to the volume, this list only includes former residential members whose last names begin with A through K, as well as former businesses whose names begin with A through K. Te remaining list will be published in next month’s issue or can be found by visiting www.okcoop.org/capitalcredits.


Patronage Capital Credit Record Update


If youwere previously amember of OEC, please use the form below to print and return.Valid address is important regarding the refund of patronage capital credits. All address updatesmust be done in writing.


Name on Account First Previous Address Street Current Address Street Spouse Name


E-Mail SS# (Required)


Federal ID# (Required if Business) Signature (Required)


Address update will be done pending match of social security number or Federal ID number. Incomplete forms cannot be processed.


Mail completed form to OEC, P.O. Box 1208, Norman, OK, 73070 OR


Fax completed form to (405)217-6900 8 City Spouse SS# (Required) Contact Phone State Zip Code City State Zip Code Middle Initial Last


OKLAHOMA ELECTRIC CO-OP NEWS • MARCH 2015


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