Great organizations are recognized for operational efficiency and delivering outstanding value. We strive for this every day at Lumbee River EMC. LREMC employees and management team work hard to provide exceptional service while offering meaningful value to you, our members. Each year, the Board of Directors decides how much excess capital is no longer needed to build and maintain the electric grid. That amount is then retired and distributed to you.
I am pleased to announce that the Lumbee River EMC Board of Directors has approved the retirement and distribution of $4 million in Capital Credits.
This year’s retirement includes:
- 2006: 100% of the remaining unretired balance
- 2008: 12.31% of the remaining unretired balance
- 2021: 10.10% of the remaining unretired balance
Checks will be mailed to member-owners during the first week of October for their portion of Capital Credits related to these calendar years.
Capital Credits are crucial to cooperative members as they represent a tangible benefit of their membership and engagement in the cooperative. This system encourages loyalty among members and reflects the cooperative’s principle of equitable distribution. Capital Credits return financial value to the members over time, enhancing their sense of ownership and investment in the cooperative’s success. These credits exemplify the Cooperative’s commitment to shared prosperity and community-driven economic empowerment.
How do capital credits work?
The capital credit allocations and refunds for Lumbee River Electric Membership Corporation members are issued in accordance with the bylaws of the cooperative.
Member ownership is the true cooperative difference!
Brian Hardin, CPA
Chief Financial Officer
It pays to be a member
Lumbee River EMC is a not-for-profit electric cooperative owned by the members we serve; one of the significant benefits of being a member-owner is the receipt of capital credits.
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$4 Million in Capital Credits Approved for Retirement
