Capital credits represent member margins that are collected through electric bill revenues and reinvested in the cooperative’s utility infrastructure. At the end of each year, Tideland’s expenses are deducted from revenue to determine the cooperative’s net operating margins.Those margins are proportionally allocated to each Tideland EMC member as capital credits based on a percentage of what each member individually paid for electricity during the calendar year.

By utilizing member capital to maintain our electric system, Tideland is able to minimize its reliance on outside lenders thus reducing borrowing costs for the entire membership. That’s why there is almost a 30-year lag between the time capital credits are allocated and ultimately retired.

The $661,000 general retirement was distributed through both checks and electric bill credits. Active account holders received a check in December if their electric account was current and their refund was $50 or more.

All other active members with 1996 service received a bill credit on their December statement.

Checks were mailed to former members for refunds of $50 or more to their last known address. That’s why it’s important to keep your mailing address current with Tideland even if you no longer have active service so we can deliver future checks.

Another reminder: make sure your estate planning documents reference your Tideland membership so the executor can apply for any remaining capital credit funds.

We also discourage you from keeping accounts active in the names of deceased members. Any subsequent capital credit allocations will continue to accrue to the deceased member’s account if it has not been closed out.

Unclaimed capital credit are eventually forwarded to North Carolina Escheats at the State Treasurer’s office or the state of the member’s last known address. To search for unclaimed cash in North Carolina visit nccash.gov.