Capital Credits2018-12-05T14:51:11+00:00

CAPITAL CREDITS

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.

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, previously allocated capital credits are retired and 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 if they were a member of record during the designated year, 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.

Refund History

$0
Total Refunds

OKEFENOKE Has Refunded Over $24,000,000+ In Capital Credits And Counting

Consistently Retiring Capital Credits To Our Members.

$0
2018 Refund
$0
Total Capital Credits Returned
$0
Estate Refunds

$1,860,468 in unclaimed Capital Credits

Could Any of This be Yours?

OREMC is trying to locate former members who have unclaimed capital credit refunds. The list contains the names of members whose checks were returned to us by the U.S. Postal Service because of an incorrect address. View the list of members with Unclaimed Capital Credits and contact customer service at 800-262-5131 if you, or someone you know, is listed.

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  is deceased, we are able to rewrite the check in the name(s) of the member’s heir(s). Please complete the Unclaimed Capital Credits Application and return to OREMC, or call Customer Service at 800.262.5131 to request a form.

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 qualified charitable organizations in each county served by OREMC and to fund ten (10) $2,000 college scholarships to students in our service area.

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