MONROE, Ga. – Walton Electric Membership Corporation (EMC) provides service at cost. That’s why its customer-owners will get an $8 million refund next month.
Co-ops are owned by the same people who purchase their goods or services. That being the case, making a profit would be self-defeating.
Here’s how the capital credit refund works:
- Walton EMC tracks the amount of money each customer-owner spends with the co-op each year.
- At the end of each year, the co-op determines if there are excess revenues (co-ops call these margins).
- Walton EMC allocates these margins to each customer-owner’s capital credit account based on the amount of money they spent with the co-op that year.
- The co-op holds this money to retire debt, prepare for emergencies and keep the organization financially sound.
- When Walton EMC’s financial condition permits, the board of directors (elected from the customer base) decides to retire – or pay – some of the capital credits.
- The customer-owner receives their capital credit refund.
2022 Refund At-a-Glance
- Total returned this year: $8 million
- Customer-owners who had accounts in these years will get a refund: 1999, 2000, 2018, 2021
- When: Early December through early January
- How: Bill credit (less than $500) or check ($500 or more)
- All-time total capital credits refunded: $134 million
Walton EMC is an innovative, customer-owned and -focused electric utility serving accounts in 10 Northeast Georgia counties between Atlanta and Athens. In its long history of meeting customer-owners’ needs, the cooperative established successful natural gas and security subsidiaries as well as nationally recognized solar initiatives. For more information, visit waltonemc.com.
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