Not many businesses pay you for buying something you wouldn’t want to live without, but electric cooperatives do!
This year, members of Horry Electric Cooperative will be receiving a portion of the capital credits assignment for 1995, 1996 and 2016.
The allowable retirement is $3,763,892 less $400,000 in estate payments. The total amount being distributed is $3,363,892, which includes the $1,535,097 balance of 1995; the $1,528,795 balance of 1996 and $300,000 of 2016. If you were a member in 2016, you will receive 1.5% of your 2016 assignment. If you were a member in 1995 and/or 1996, you will receive the remaining unretired balance of your assignment for that year.
Capital credit disbursements are made by the end of April. Due to the expense of processing and issuing checks, members with refunds in amounts less than $10 will see a credit on their electric bill.
Members can calculate the approximate amount of their 2016 allocation and disbursement by using the chart shown below. It was designed to help members calculate and estimate what their capital credit check or electric bill credit might be.