The Transformer OFFICIAL NEWSLETTER OF CANOOCHEE ELECTRIC MEMBERSHIP CORPORATION
May 2024
Canoochee EMC Announces a Successful Year
T
he Canoochee Electric Membership Corp. (EMC), a member-owned electric cooperative, is pleased to announce the assignment of $4 million in capital credits to its members for 2023. This is an assignment only and not a refund.
What Are Capital Credits? As a not-for-profit cooperative, Canoochee EMC operates on a cost-of-service basis. Any margins earned after providing electricity at cost are allocated to members as capital credits based on their electricity use. These capital credits represent your ownership stake in the cooperative and help strengthen its financial health.
When Will I Receive My Capital Credits? The Canoochee EMC Board of Directors reviews the cooperative’s financial health each year and determines when to retire capital credits. In 2023, the board approved a retirement of $2.039 million in capital credits. Retirements are based on the cooperative’s financial needs and future capital requirements. Since 1938, $24.3 million has been retired to Canoochee EMC members.
Canoochee EMC: Committed to Affordability and Reliability The Board of Directors thanks its members for their continued support. Canoochee EMC remains committed to providing reliable electricity at an affordable cost. They appreciate the opportunity to serve you and look forward to doing so in the future. Sincerely, Canoochee EMC Board of Directors Board Members Connie L. Thrift, President Bob Floyd, Vice President Kimberly S. Blocker, Treasurer LaNell M. Oliver, Secretary Robert E. Dasher Bernard Purvis Kenneth L. Durrence Ed Bradley Jr. Lavanda Lynn
Holiday Office Closing Canoochee EMC’s offices will be closed Monday, May 27, in observance of Memorial Day.
Touchstone Energy Senior Citizen of the Month Congratulations to Stephen Rikter of Lyons for being selected as the May 2024 Touchstone Energy Senior Citizen of the Month.
Canoochee EMC Newsletter
A Touchstone Energy® Cooperative
www.canoocheeemc.com
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