Jackson EMC to Return $7.5 Million to Members
(JEFFERSON, GA., September 16, 2016)— Jackson Electric Membership Corporation’s (EMC) Board of Directors announced at the cooperative’s 77th Annual Meeting on Thursday that $7.5 million will be returned in December to more than 220,000 members who received electric service in 1990 and/or 2015.
"Because Jackson EMC is a not-for-profit cooperative, the board is able to return a portion of the revenue left over after all the bills are paid, funds we refer to as ‘margins’, to our members at the end of each year,” said board Chairman Chuck Steele. “After this December’s refund, Jackson EMC will have returned $115.5 million in margin refunds to its owner/members since the cooperative was founded in 1938.”
Steele also reported to the audience that during the year Jackson EMC had invested $39 million in the cooperative’s distribution network, and had added more than 3,400 meters.