One of the benefits of being a consumer-member of a not-for-profit electric cooperative is you are an owner who has a stake in the financial success of Okefenoke REMC through capital credits. Cooperatives exist to provide members with electric service on a non-profit basis. Annually, any excess earnings are calculated by taking OREMC’s previous year’s annual margins (revenue minus expenses) and allocated as capital credits to each member of record based on their total billing that year.
Capital credits are retained by OREMC for operating capital before being retired and paid back to our consumer-members. The money is used instead of borrowing capital, which reduces the co-op’s interest expense, ultimately saving you money.
Margins are also assigned to OREMC by other cooperatives we are a member of, such as our power suppliers. These margins are also assigned as capital credits to members based on their total annual billing.