Unclaimed Capital Credits 1974-1975
Each year, the earnings collected in excess of the cost of providing service, are allocated to Canoochee EMC’s members. This allocation is what we call capital credits, or patronage capital. We currently pay out capital credits in two ways, either by having a general retirement, or at the time of a member’s passing.
When we have a general retirement, we find that not everyone claims these funds. We hold these funds for our members for five years, at which point we make a final effort to find them. Beginning next month, we will be advertising that we have unclaimed capital credits for our members, but they will have only until September 28, 2018 to claim them. After that, all remaining funds from the 2012 general retirement for the years 1974-1975 will be transferred The CEMC Foundation, Inc. These funds are earmarked for education, or for economic development that benefits the members of Canoochee EMC.