Unclaimed
Capital Credit Education Fund
Created in
1996, the Unclaimed Capital Credit Fund provides money to area
schools using capital credits that are unclaimed by former
members. Prior to
1996, Co-ops were required by law to retain unclaimed capital
credits for five years, and then escheat them to the State of
Montana. During the
legislative session that year, Co-ops successfully lobbied to
allow the unclaimed capital credits to be retained by the Co-ops
to be used for educational purposes.
Since
that time, Lincoln Electric Cooperative has donated over $78,000 of
unclaimed capital credits to area schools. Each year, schools are contacted and asked to put
together a list of unmet needs. A committee of the board reviews these requests and
selects which schools receive the funds available that year. It varies year to year – but is usually several
thousand dollars. Schools
have used the funds for various purposes including: new
technology, curriculum and in-service training for school
personnel.
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