Kandiyohi Power Cooperative was organized in 1935 as a member-owned, not-for-profit electric cooperative in Kandiyohi County, Minnesota. The cooperative serves more than 8,900 members in Kandiyohi, Stearns, Swift and Chippewa counties.
As a member of Kandiyohi Power Cooperative, you are also an owner. Capital Credits represent your ownership in Kandiyohi Power Cooperative. Capital Credits are one of the benefits you enjoy as a member of KPC. At the end of each year, after operating expenses have been paid, margins are returned to our members in the form of Capital Credits. The retirement of Capital Credits happens at the discretion of the board of directors. The board of directors assess the financial condition of the cooperative and determines what amount to retire to our members. Capital Credits may not be retired every year. The amount you receive is based on two things: your length of membership with KPC and the amount of power used during the period.
Thank you for being a member of Kandiyohi Power Cooperative. This information is meant to help our members better understand how Capital Credits work.
If you received a check that was issued to a deceased member, a joint account after a divorce or other incorrectly issued checks, please contact us at 800-551-4951 to have the check corrected. You may need to provide identification or legal documents to prove your representation to the estate or account.
If you move out of KPC service territory, please make sure to update us with your new address so that we can contact you regarding any future Capital Credit refunds.
Contact Member Services by email or 800-511-4951 to update your address or for additional assistance.
When a member passes away, the Capital credit account belongs to the estate of that member. An estate representative must request the credits by submitting a Capital Account Change or Settlement Request, an Affidavit for Collection of Personal Property, a copy of the death certificate and if applicable, a W-9.
These forms are available from our office. Please call 800-551-4951 or stop by and pick them up.
Not necessarily. While Capital Credit allocations are made each year, the board of directors must authorize a retirement before you will receive a check or bill credit. When considering a retirement, the board analyzes the financial health of the cooperative.
Allocated Capital Credits are the member's share of the net margins and reflect your equity and ownership in KPC. Members are allocated Capital Credits each year the cooperative earns positive margins. This money is set aside for operating capital for improvements and maintenance over a period of years.
Retirement is the amount a member receives as a refund. This refund is a portion of your total allocation. When Capital Credits are retired, a check is issued or a credit is applied to your bill and your equity in the cooperative is reduced. Until retirement, the allocation has no cash value. The decision to refund (retire) your Capital Credits, rests with the KPC board of directors and depends on the financial condition of the cooperative.
Cooperative Capital Credits: These are the KPC Capital Credits that reflect your ownership in the cooperative.
G&T (Generation and Transmission) Capital Credits: Kandiyohi Power Cooperative purchases power from Great River Energy (GRE) and these Capital Credits reflect the allocation made to KPC from them. In turn, KPC allocates a portion to each member every year.