For the 34th consecutive year, Habersham EMC (HEMC) members will receive capital credit checks. These normally are retired in November, but due to the COVID-19 pandemic, the HEMC board of directors voted to return credits early.
Since 1987, HEMC has returned more than $17 million to its members, according to a news release from the cooperative.
The nonprofit organization utilizes member capital for a period of time to finance electric system improvements and maintain the financial strength required by lenders. HEMC then returns the money to its members. This year’s retirement includes the return of capital contributed by members in 1989 and 1990.
HEMC issues checks to members for $10 or more. If the credit is less than $10, the funds are retained until the $10 minimum is reached.
Clarkesville-based HEMC is an electric cooperative founded in 1938. It now serves more than 26,000 members with 3,800 miles of line in six Northeast Georgia counties, including Habersham, Hall, Lumpkin, Stephens, Rabun, and White.
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HEMC Annual Meeting will be conducted differently this year
