As a not-for-profit electric cooperative, Piedmont Electric returns excess revenue, also known as margins, back to our members in the form of capital credits. Because members are also owners of the cooperative, these margins are allocated based on how much electricity each member uses during the year.
Each year these capital credits are returned to members through bill credits or checks. Unfortunately, sometimes these credits go unclaimed. This can happen when members move and forget to update their contact information or do not deposit their checks. If your friends or family have moved out of our service area in recent years, they could have unclaimed capital credits waiting for them!
To check the capital credit list, visit pemc.coop/capital-credits. And remember, if capital credits remain unclaimed for more than four years, the funds are transferred to the North Carolina State Treasurer’s Office, where they can still be claimed through the state’s unclaimed property program at nccash.com.
Keeping your contact information up to date helps ensure you receive future capital credit retirements without delay.