Owned by those we serve.


Capital Credit Refunds

Hart EMC is organized as a not-for-profit electric membership cooperative and is owned by its members. As a cooperative, Hart EMC does not earn profits. Instead, any revenues and other income over and above the cost of doing business during a given year are considered "margins." A percentage of the margins are allocated to each member of the cooperative who bought power from the utility during the year they were earned. Each retail member earns the same percentage on their purchases, although the actual dollar amount so "credited" will vary from members to member because it is based upon total individual annual purchases.

Each member's annual credit allocation is accumulated and totaled over the period of time that the member continues to receive service. Margins are treated as capital contributed by the membership to the cooperative to help reduce the cost of borrowing and hold down rates. Margins are used for a variety of operating and capital costs and are typically repaid in the future to the members of record for the year in which they were earned. In years that capital credits are refunded, a notice is published in our monthly newsletter explaining how much capital credits will be allocated to the members. An allocation is not the same as stock or cash.

Allocated credits are typically paid to the members in cash over time through a process called capital credits retirement. The Hart EMC Board of Directors usually considers a retirement of capital credits annually. When a capital credits retirement is authorized by the Board, both the dollar amount and year(s) to which the allocations relate are specified. Current member equity refers to the dollar value of a member's allocation - but not yet retired - capital credits.

Capital Credits Refund Policy:

It shall be the policy of Hart Electric Membership Corporation to make refunds of Capital Credits to its members whenever possible. Such refunds should be consistent with sound management practices and be consistent with the provisions of the Mortgage Contract with the Rural Utilities Service. Refunds of Capital Credits shall be on no less than a 10-year basis and shall currently be retired on approximately a 20-year rotating cycle. The only noted exception to this standard shall be for the retirement of capital credits to estates of deceased members outlined in Hart EMC Policy No. 303, Retirement of Capital Credits to Estates of Deceased Members on a Present Value Basis.

Unclaimed Capital Credits

Please contact Frances Gaines for more information or to find out if you have any unclaimed capital credits. To contact Frances, call 706-377-2212 or 800-241-4109 or by email at capitalcredits@hartemc.com.

When capital credits refunds are issued, they are automatically sent to the name and address in our records. Many of the checks return to us because they can not be delivered. We make every effort to locate the intended recipient or the executor of the estate if they are deceased. To see if you are due Capital Credit Refunds, simply enter your last name or the last name of the person whose estate you execute and click the “Find Name" button. If a match is found please use the contact information below to find out about claiming any Capital Credit Refunds.

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