At the September meeting, the Board of Directors approved the retirement of deferred patronage dividends totaling $1,000,000 to active members, and former members, in accordance with our cooperative principles. The amount represents:
• 100% of remaining allocated operating margins for 2011
• 19.34% of remaining allocated operating margins for 2013
• 13.12% of remaining allocated operating margins for 2014
Your 2026 patronage check is based on a percentage of how much energy you purchased during 2011, 2013 and/or 2014. Checks will be mailed out at the end of October. Current and former members with patronage amounts of $5 or more will be mailed a check. Lesser amounts will be left to accrue for future payouts. Ownership in a cooperative has many benefits, which includes receiving cash back over time. Each year, the Board of Directors determines the amount of excess margins that can be allocated back to the members based upon the amount of energy and fiber services they each purchased during the year. The allocated funds are retained to cover emergencies such as natural disasters, and other unexpected events, and to maintain and expand our electric and fiber systems. This practice decreases the need to raise rates or borrow money. Then, as the financial condition of the Cooperative permits, the directors elect to pay the allocated margins back to its members. To ensure you receive future payments, please keep MVEC informed of any address changes or notify us of the death of a member or former member.

If you prefer to receive your patronage as a bill credit (instead of a check), please contact our office at 800-927-6068 to make this request.
Note: Please cash your dividend check as soon as possible. It will only be honored for 120 days from issue date.