This year, South River EMC refunded $3,322,733 to current and past members. As a not-for-profit cooperative, we don’t technically earn profits. Instead, any money remaining at the end of the year, called margins, is returned to the members who purchased energy from the Cooperative during that year.
Following is a breakdown of the numbers:
- 7,612 members received refund checks.
- 36,559 current members had their refund applied to their electric account.
- The remaining refunds for inactive members have been applied to outstanding balances or have been moved to a “hold” status because we do not have a valid current address or the amount is less than $50.
This year, the Cooperative is returning 25% of the amount allocated to members for 2024, as well as the remainder of the 2009 year; and 43% of the 2010 year.
The remaining 2024 amount will be refunded in 19 years, unless a member leaves South River EMC and chooses the early retirement option. That’s all part of being a member.
Capital Credits
Find out the most recent refund information, as well as frequently asked questions about the capital credits program.
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