Co-op returning $3.2 million in capital credits to members

Not many businesses pay you for buying something you wouldn’t want to live without, but electric cooperatives do!

This year, members of Horry Electric Cooperative will be receiving a portion of the capital credits assignment for 1997, 1998 and 2017.

The allowable retirement this year is $3,778,431.81 less $500,000 in estate payments. The total amount being distributed is $3,278,431.81, which includes the $1,416,543.66 balance of 1997; the $1,561,888.15 balance of 1998 and $300,000 of 2017. If you were a member in 2017, you will receive 1.9% of your 2017 assignment. If you were a member in 1997 and/or 1998, you will receive the remaining unretired balance of your assignment for that year

Capital credit disbursements are made by the end of April. Due to the expense of processing and issuing checks, members with refunds in amounts less than $100 will see a credit on their electric bill.

All refunds below $100 will be credited to the accounts of eligible active members when the account bills in April. 

Members can calculate the approximate amount of their 2017 allocation and disbursement by using the chart shown below. It was designed to help members calculate and estimate what their capital credit check or electric bill credit might be.

capital credit chart for 2018 distribution

 

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