Unclaimed Capital Credits - 1978-79
Each year, the earnings collected in excess of the cost of providing service, are allocated to CEMC’s members. This allocation is what we call capital credits, or patronage capital. We pay out capital credits in two ways, either by having a general retirement, or at the time of a member’s passing. In 2015, the CEMC Board of Directors approved a General Retirement for the years 1978-1979.
When we have a general retirement, we find that not everyone claims these funds, or we have lost contact with them. We hold these funds for our members for five years, at which point we make a final push to find these members. These funds will need to be claimed by September 29, 2021. After that, all remaining funds from the 2015 general retirement from years 1978-1979 will be deposited into Canoochee’s Foundation, The CEMC Foundation, Inc. These funds will be earmarked for education, or for economic development that benefits the members of Canoochee EMC.
Please call (800)342-0134 if you can help us locate these recipients.