HIGHLIGHTS:
- Total returned this year: $9 million
- Capital credits refunded since 1936: $143 million
- When: Early December through early January
MONROE, GA (Nov. 3, 2023) — Walton EMC customer-owners are about to receive one of the benefits they enjoy as co-op members. The co-op’s Board of Directors has approved the return of $9 million in capital credits to eligible members. With this year’s distribution, the co-op has refunded a total of $143 million back to its members.
“As a cooperative, Walton EMC is owned by its members and they benefit from the financial success of the company,” said Dr. Michael Lowder, Board chair. “Our capital credit allocation allows the co-op to return to members any revenue beyond the costs of providing electricity. It’s a win-win for everyone in our community.”
For not-for-profit companies like Walton EMC, any revenues over and above the total expenses for the year are considered margins instead of profit. These margins are assigned to each customer-owners’ account as a capital credit based on the total dollar amount they paid for energy in a particular year.
“Our competitively priced, reliable power supply, along with our continued efforts to maximize efficiencies and control costs, make these refunds possible,” said Ron Marshall, Walton EMC President and CEO.
Each year, the co-op’s member-elected Board approves refunds after reducing debt, saving for emergencies and investing in infrastructure, among other things. The 2023 capital credit refunds are calculated based on the total dollar amount of energy each customer-owner purchased during 2000, 2001, 2018 and 2022. The distribution will occur from early December through early January.
Refund amounts are applied as a credit to active customer-owners’ accounts with no outstanding balance. Checks are issued to customer-owners receiving a substantial refund, as well as former customer-owners who had accounts during the years targeted for the distribution.
About Walton Electric Membership Corporation
Walton Electric Membership Corporation (Walton EMC) is a not-for-profit, member-owned electric cooperative providing electricity to 130,000 members in a 10-county service territory in northern central Georgia. Founded in 1936, Walton EMC is dedicated to providing safe, reliable and affordable energy to the communities it serves.