Tideland EMC’s board of directors has approved a general retirement of capital credits totaling $750,000. The refund applies to members served by the co-op during 1991. Active account holders will receive a check this month if their electric account is current at the time of the distribution and if their refund is at least $50.00. All other active members will receive a credit on their December electric bill.
In the case of inactive members with a capital credit retirement of more than $50, we will mail a check to their last known address. Checks that are returned or uncashed will be escheated to the NC Department of State Treasurer’s unclaimed property division. That’s one reason it is a good idea to keep your current address up to date with the co-op if you ever move off our system.
In addition to the general retirement, approximately $450,000 will be refunded to the estates of deceased members. Therefore, total retirements for the year will total $1.2 million in capital credits.
If you are the executor of the estate for a deceased member, be sure to complete a capital credit request form and submit to our office along with a copy of the member’s death certificate. The form can be found online at tidelandemc.com.
Thank you for allowing us the privilege to serve you and to be good stewards of your member-owned resources.
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