Being a member of South River Electric Membership Corporation has benefits. In November, the nonprofit electric cooperative refunded capital credits totaling $5,987,244.57 to its current and past members.
As a cooperative, South River EMC doesn’t earn profits, any money remaining at the end of the year, called margins, is allocated for return to the members based upon their electricity purchases for that year. South River EMC uses the money as operating capital before it’s returned.
The Cooperative mailed 22,332 checks totaling $4,476,670.56 to current and former members. For active members whose total was $100 or less, the refund was applied to their electric account. For any past members with an outstanding balance with the Cooperative, their refund was applied to that balance.
This year, the Cooperative is returning the remainder of the 2005-year, 100 percent of the 2006-year, 45 percent of the 2007-year and 20 percent of the 2021-year. The remaining 2021 amount will be refunded in about 19 years, unless a member leaves South River EMC and chooses the early-retirement option.
Although the Cooperative does try to keep an address on file for members who move out of the service area, this is not always possible. If you received electricity from South River EMC prior to 2004, South River EMC might have money that belongs to you.
Simply visit sremc.com to review a full list of unclaimed capital credits. If your name is on the list, simply call the office or download and complete the form to claim your money.
South River EMC is a locally-owned and operated electric cooperative, which provides electric service to 46,000 homes, farms and businesses in parts of Harnett, Cumberland, Sampson, Johnston and Bladen counties.