As an electric cooperative, our business model is unique. And it’s all about you, our members. Unlike investor-owned utilities, Mid-Carolina is a not-for-profit business. That means we operate on just enough to run the business. Instead of existing to earn a profit for stockholders, we exist to serve our member-owners in the best way possible.
Rewarding our members.
Each year our excess revenue is returned to members as capital credits. Sometimes those credits are held in reserve for a period of time and used to better serve you on things like system improvements and infrastructure development. Other years, we're thrilled to give money back to you in the spring in the form of a capital credit refund.
Tax implications? Not usually.
Normally you are not required to report capital credit payments on your income tax return. However, if you have questions concerning tax liability, consult your tax preparer.
Stay in touch.
If you move, be sure to provide us with your forwarding address. That way we can send you future capital credit statements and refunds.
Think you may have unclaimed capital credits?
Check the list to see if we’re holding unclaimed capital credits for you. If so, access a claim form. Unclaimed capital credits are subject to an administrative fee of $5 per month for each account. For more information, contact Member Services at 803-749-6400.