Capital Credits

When we have a good year and earn profits or margins, we can give cash back to our members.

When you move to Cobb EMC’s service area, you become a member of our electric cooperative. Our cooperative (or co-op) is owned by our customers/members, much like a credit union.

As a not-for-profit business, we exist to provide you reliable electricity – not to make a profit. When we have a good year and earn profits or margins, we can give cash back to our members. It’s one of the things that makes an electric co-op unique, and it’s one of the many benefits of being a co-op member.

Your board of directors (who are elected by our members) can vote to return excess revenue, based on the financial health of the company. The money you receive – known as capital credits – is your individual portion of the cooperative’s profits.

Unclaimed Capital Credits

Cobb EMC is attempting to locate former members whose capital credits were issued in September 2017, but have been returned by the U.S. Post Office as “undeliverable” or have otherwise been unclaimed. A current list of these members and instructions for claiming these funds is posted below or at our corporate office at 1000 EMC Parkway, Marietta, GA, 30060 for review from 9 a.m. until 5 p.m. Monday through Friday. The last possible date to claim these funds is November 6, 2022. If these funds are not claimed by this date, they will be donated for educational, economic development or charitable uses, as permitted by O.C.G.A. 44-12-236. 
 
To claim a refund or submit any questions about this notice, please contact Cobb EMC, 770-429-2100.

UNCLAIMED CAPITAL CREDITS

 

Frequently Asked Questions

Still have questions? Contact us at memberservices@cobbemc.com.

The cash you get back from Cobb EMC (known as capital credits) is your individual portion of the cooperative’s profits beyond the costs of providing our members reliable electricity. As a not-for-profit business, we exist to provide you reliable electricity – not to make a profit. When we have a good year and earn profits or margins, we can give cash (or capital credits) back to our members.

This cash back – or retirement of patronage capital – is controlled by the bylaws of our co-op. Decisions about whether to give cash back (and when) are made annually, based on the company’s financial condition. 

  • Current members: Current members will receive their cash back in the form of a bill credit on their 2021 August or September bill. Look for the line-item titled Capital Credit Cash Back. If the amount is $500 or more, members will receive a check in the mail.*
  • Former members: Former members who have moved and are no longer on the Cobb EMC system will receive a notice and check in the mail in August or September for the remaining credit after any balances are paid.* A check will be mailed to the most recent address that was provided.
  • Deceased members: If the account is active and the cash back amount is less than $500 then a bill credit will be applied to the primary account residence after any balances are paid. If the amount is $500 or more, after any balances are paid, a check will be mailed to the primary account residence in the name shown on the account.* For inactive accounts, for the remaining credit after any balances are paid, a check will be mailed to the primary account residence in the name shown on the account to the most recent address provided.* Heirs or estates of current or former members may apply for capital credits to be issued to a name and or address that is different than what we have on file.

*Some restrictions may apply. If you have specific questions about your account, email our team at memberservices@cobbemc.com.

The amount you receive is based on how much you paid for electricity during 2019. Cobb EMC’s 2019 excess margins totaled $26,297,658, and 57% of that amount will be retired this year. That means we are giving $15 million back to our members. The remainder will be retired and paid in future years as voted on by the board. To calculate your credit amount, multiply your total amount billed* in 2019 (not including taxes and fees) by 3.49302063%.

*This excludes taxes, operation round up and other ancillary services.

Members with more than one active account in 2019 will receive one combined credit or check for all accounts in August or September 2021. If you have unpaid or past due balances owed on more than one account, then the credit may be applied to more than one account.

Members with a closed and active account will receive one combined credit or check for all accounts. Look for the line-item titled Capital Credit Cash Back on the 2021 August or September bill of the active account after any balances are paid. If the combined amount is $500 or more, members will receive one check in the mail for all accounts.

Yes, all Cobb EMC members, both residential and commercial, can receive capital credits. The amount is calculated the same, regardless of the type of member. The business’ amount will be the total amount billed for electric service* in 2019 multiplied by 3.49302063%. If the business has been sold or dissolved, please complete the redesignation application.

*This excludes taxes, operation round up and other ancillary services.

Decisions about whether to give cash back (and how much and when) are made annually, based on the company’s financial condition. The board of directors also assesses whether the company needs to invest in system improvements to improve reliability. Reinvesting that money in our cooperative means we don’t have to borrow money, which helps us keep costs down and rates low.