23
June
2021
|
09:50 AM
America/New_York

Need to Know: Calculating Your Capital Credits

One of the benefits of being a member of a cooperative is receiving capital credits.

Jackson EMC is a not-for-profit electric cooperative owned by our members. Each year, amounts collected above the cost of providing electric service are credited to members’ capital accounts based on their patronage (total billing less sales tax).

Each year, capital credits – known as margin refunds by Jackson EMC – are returned to members under certain conditions. The board of directors determine which previous years of capital credits to return, while keeping the cooperative financially strong. More than one previous years’ of capital credits may be returned to members. Eligible current and former Jackson EMC members receive these funds as margin refund checks in December.

Your 2020 capital credit was 6.659% of your total patronage. See the example to the right to calculate your capital credit.

This notification is for all rates, except QF, LPS, LGS or MBS (you can find your rate designation printed on your monthly bill). Members with those rates have received a separate notification.

Example for Calculation of 2020 Capital Credits

Amount of bills for 2020 (excluding sales tax) x Allocation Patronage (6.659%) = Your Dollar Allocation

For Example:

If your 2020 power bills totaled $500

Amount of Bills for 2020 (excluding sales tax) x Allocation Patronage = Your Dollar Allocation

$500 x 6.659% = $33.30

If your 2020 power bills totaled $1,500

Amount of Bills for 2020 (excluding sales tax) x Allocation Patronage = Your Dollar Allocation

$1,500 X 6.659% = $99.89