What Are Capital Credits?
As a member of Piedmont Electric Cooperative, you’re not just a member, you’re an owner. Because we operate as a not-for-profit cooperative, any profits (known as margins) we earn are returned to you in the form of capital credits. Your capital credits are calculated based on your monthly bills during years when the cooperative collected more revenue than it spent. In 2024, we retired $1 million worth of capital credits, and since 1975, Piedmont Electric has returned more than $34 million to members!
Previous Members Could Miss Out
When members move out of our service area without leaving a forwarding address, they could have money waiting for them. Have any of your friends or family members relocated outside of Piedmont Electric’s service territory? They might be owed capital credits and not even know it.
Visit pemc.coop/capital-credits to search for unclaimed capital credits for friends and family who have moved away. It takes just a few minutes and could put money back in their pockets.
If capital credits remain unclaimed for more than four years, state law requires us to turn that money over to the North Carolina State Treasurer’s office. These funds can still be claimed by visiting nccash.com, but the process becomes more complex.
Naming a Beneficiary for Your Capital Credits
Many members don’t realize they can designate a beneficiary for their capital credits. This simple step ensures your credits transfer directly to someone you choose if you pass away, without going through the court system.
Your Beneficiary Options
You can designate:
- Family members or friends: Direct your capital credits to the people who matter most.
- Organizations or charities: Support causes close to your heart.
- Piedmont Electric’s Helping Hand Foundation: Allow your capital credits to continue supporting members in need, local teachers through Bright Ideas grants, college scholarships and youth leadership camps.
Take Action Today
- Help others: Visit coop/capital-credits to search for unclaimed credits for friends and family who have moved away.
- Designate your own: Visit coop/beneficiary to name a beneficiary for your capital credits.
By helping others claim their capital credits and by protecting your own, you’re making the most of your co-op ownership while building a stronger community.