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Money Back to You: The Cooperative Difference in 2023

Capital CreditsCooperativeNews

Capital Credits: Your Ownership in the Cooperative illustration with a clock, coins, and money.Money Back to You: The Cooperative Difference in 2023

Asheboro, NC - Beginning June 1, 2023, nearly 97% of Randolph Electric Membership Corporation (REMC) members will receive a check or bill credit for their share of the annual general capital credits retirement.

As members of Randolph EMC, you are not a customer. You are an owner of this cooperative. This is a difference that sets Randolph EMC apart from other electric utilities.

As member-owners, you are entitled to share in any excess revenue left over at the end of each year. The capital credit refund is just 1 example of the cooperative difference.

At Randolph EMC, we count it a privilege to touch the home of every member in a positive way. Our core values of integrity, accountability, innovation. and community involvement guide us in every decision we make. You, our member-owners, are our top priority. We appreciate the opportunity to serve you.

How Do Capital Credits Work graphic. Because electric co-ops operate at cost, excess revenues are returned to you in the form of capital credits. REMC tracks how much electricity each member uses and purchases throughout the year. Each year, after expenses are paid, REMC calculates margins (leftover funds) and allocates each member’s share to their account. REMC uses the margins for a time to pay down debt and to invest in plant advancements and improvements. When financially feasible, REMC retires (returns) capital credits to members. Since inception, Randolph EMC has returned more than $58.5 million to its members. Your Capital Credits Refund is included on this bill!