Co-op returning $4.6 million in capital credits to members

Capital CreditsNot 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 1999, 2000, 2001 and/or 2018.

The allowable retirement this year is $4,616,206 less $500,000 in estate payments. The total amount being distributed is $4,116,206, which includes the $695,623 balance of 1999; the $1,006,197 balance of 2000, $2,114,386 balance of 2001 and $300,000 of 2018.

  • If you were a member in 2018, you will receive 1.57% of your 2018 assignment.
  • If you were a member in 1999 and/or 2000, 2001, 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 $100 will see a credit on their electric bill.

All refunds below $100 will be credited to the accounts of eligible active members when the account bills in April.

Members can calculate the approximate amount of their 2018 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.

capital credit calculation example 2019

 

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