If you were a member of Piedmont Electric Membership Corporation in 1987, you will soon receive your share of capital credits for that year.
One of the major benefits of being a member of Piedmont EMC is that you are returned any money that is left over after all of our bills have been paid. The amount of these funds you receive is based on the amount you paid for the electricity consumed during the year of the retirement.
General retirement checks will be mailed to eligible members with owed retirements of $20 or higher. Those who have capital credit accounts less than $20 will see a credit on their energy bill. Inactive accounts will receive a check providing there is a current mailing address on file. Inactive members with less than $20 in their capital credits account will have their payments held until the $20 minimum is met in a future year.
The 2015 general retirement of capital credits will involve retiring approximately $1,270,000 this year. In addition, over $200,000 was returned to the estates of deceased members this year.
Your cooperative membership entitles you to this capital credit retirement whenever Piedmont EMC is financially able to approve these refunds and receives approval by the board of directors. Until a specific year is “retired” the funds are used for maintenance of the electrical grid and to allow Piedmont EMC to meet the financial requirements of our lenders. Piedmont Electric has returned over $21 million dollars in capital credits to members since 1975.
NOTE if you change electric providers please be sure to leave a forwarding address and other contact information so we can reach you concerning your future capital credit disbursements. For any questions regarding capital credits, call 1.800.222.3107.