HEMC Returns Capital Credits
For the 32nd consecutive year, Habersham EMC (HEMC) members received capital credit checks in late November. Since 1987, HEMC has returned more than $15 million to members. This year’s retirement of $1.5 million includes the return of capital contributed by members in 1987 and 1988.
Member capital is utilized for a period of time to finance electric system improvements and maintain the financial strength required by HEMC’s lenders. Then it is returned, demonstrating our cooperative, nonprofit organization.
HEMC issues checks to members for $10 or more. If the check is less than $10, the funds are retained until they add up to that amount in future capital credits. A check will then be mailed at the next capital retirement date.