Official Notice: Capital Credits August 2022

What are capital credits and how are they calculated?

Because we’re a not-for-profit cooperative, we give profits (known as margins) back to our members in the form of capital credits.

The amount you’re owed is based upon the amount of revenue you contribute to the cooperative through payment of your monthly bills during a year in which the co-op collected more than it spent. In 2021, we retired 1.3 million worth of capital credits from 1994 and half of capital credits from 1995.

When to expect your capital credits

All capital credits from 1994 and earlier have been returned. That is more than $28.6 million to members since 1975!

Our member-elected board of directors determines whether our co-op’s financial position permits the return of capital credits, the amount of which will be returned to members and which year or years are returned. Capital credits helps keep our rates low as it lowers the amount of funds we need to borrow in a given year.

Unclaimed capital credits

Have any of your friends or family members moved out of the Piedmont Electric Cooperative service area over the last few years? If a member moves away and we don’t have their new address, they could have money waiting for them in the form of capital credits or uncashed checks.

Visit pemc.coop/capitalcredit to search for unclaimed capital credits for your friends and family members who have moved.

We always attempt to contact former members that are owed money, but if capital credits go unclaimed for more than four years, they have to be turned over to the state treasurer’s office. That money can be claimed by visiting nccash.com.

Thanks in advance for helping us return money to former members!