Because Snapping Shoals Electric Membership Corporation is a member-owned, non-profit cooperative, excess revenue is eventually returned to our members as capital credit payments. Each year margins, which is the revenue left after all expenses have been paid, are assigned to members’ accounts as capital credits. Capital credits are allocated in proportion to the total amount of electricity the member purchased during that year.
Since sufficient funds must be kept on hand to make system improvements and build new lines, capital credits are normally retained for a while for these purposes. They are paid to the members when it is financially sound to do so and when approved by the Board of Directors.
Snapping Shoals Electric Membership Corporation is attempting to notify its past members whose capital credit checks for electric service received in 2002, 2003, 2019 and 2020 issued in July 2023, but were returned by the post office as undeliverable.
Here are the lists of those members and their last known address:
Snapping Shoals Electric Membership Corporation is attempting to notify its past members whose capital credit checks for electric service received in 2002, 2016 and 2018 were issued in July 2019, but were returned by the post office as undeliverable. The last date to claim these funds is July 3, 2024. If not claimed by this date, they will be utilized as authorized by current Georgia law.
Here are the lists of those members and their last known address: