CAPITAL CREDITS

As a member of Okefenoke Rural Electric Membership Corporation (OREMC), you are also one of our owners. You elect the board of directors and you have a voice in the way your Co-op is managed.

Cooperatives exist to provide members with electric service on a non-profit basis. Investor-owned utilities, on the other hand, create a rate structure that will maximize their profits so they can pay dividends to their stockholders. Cooperatives also collect more money than it costs to provide electricity, but in a Co-op these “margins” do not belong to the corporation. Capital Credits belong to individual consumers who pay their monthly electric bills.

These excess earnings are accumulated in order to provide financial stability for your Cooperative. This financial stability helps keep rates at a competitive level by reducing the amount of funds that have to be borrowed by your cooperative.

Capital Credit FAQ’s

After an annual review, if there is money over and above our normal operating expenses, and OREMC is financially able to do so, the money is returned to members in the form of a capital credit refund. The amount of a member’s capital credit refund depends on the length of time they have been served be OREMC and the amount of energy the member purchased from the cooperative. OREMC Retires Capital Credits on a First-In, First-Out Basis. In December 2015, OREMC retired $1,168,654 to members that had service during the year 1989.

Refund History

$0
Total Refunds

OKEFENOKE Has Refunded Over $20,000,000+ In Capital Credits And Counting

Consistently Retiring Capital Credits To Our Members.

$0
2015 Refund
$0
Total As Of 12/31/2015
$0
Deceased Estates

$1,252,389.20 In Unclaimed Capital Credits

Unclaimed CC Listing

Could Any Of This Be Yours?

Okefenoke is trying to locate former members who have unclaimed capital credit refunds. Click the button to see a list that contains the names of members whose checks were returned to us by the US Postal Service because of an incorrect address.
Unclaimed CC Listing

We need your help!

If your name is on the list, or if you have an updated address for someone on the list, please contact OREMC.

If one of your relatives is on the list and he or she is deceased, we are able to rewrite the check in the name(s) of the member’s heir(s). Please contact our office to obtain the form needed to claim these funds by calling 1.800.262.5131 and speaking to one of our friendly customer service representatives.

If the Postal Service returns a mailed check to the cooperative, we make every effort to locate that person. After a period of time, if we cannot locate the individual, the unclaimed money is distributed to charitable organizations in each county served by OREMC to be used to help fund power cost for those in need and a portion is used to fund ten (10) $1,000 college scholarships to students in our service area.