Georgia – Sawnee Electric Membership Corporation (Sawnee EMC) has announced plans to give back around $8.3 million to almost 120,000 past and present customers. This refund comes from the earnings of 2006. Anyone who was a member and used Sawnee EMC’s electricity services during that year, whether individual or business, will get some money back.
Sawnee Electric Membership Corporation operates as a non-profit electric group
Sawnee EMC operates as a non-profit electric group, so every year, members get a share of the profits, known as “patronage capital,” recorded in the company’s books. The amount each member gets is tied to how much they contributed to the company’s income through their electricity bills in a given year.
In the rules of Sawnee (the Bylaws), patronage capital means any money made beyond what it costs to run the company. Georgia law says this must be done. The Sawnee EMC Board of Directors regularly decides to give this extra money back to members for specific years. They only do this if it won’t hurt the financial health of Sawnee EMC.
2006 customers could expect to get around $69 back on average
Anyone who used Sawnee EMC’s electricity in 2006 can expect a share of the $8.3 million being returned. On average, each member might get around $69 back. However, the actual amount will differ for each person, depending on how much they paid in electricity bills in 2006.
Current Sawnee EMC members eligible for this refund will see a credit on their electric bill in March 2024. Those who used to be members but aren’t anymore will get a check mailed to them, provided Sawnee has their latest address. These checks are expected to be sent out around April 2, 2024.
“It is important for us to demonstrate through this, and many other actions, that the cooperative business model still works for our members and our organization,” states Michael Goodroe, Sawnee EMC’s President and CEO.
Sawnee EMC doesn’t just return money at this time of year. According to Blake House, the Vice President of Member Services, the company also voluntarily gives back patronage capital to the families of members who have passed away. Every year, these refunds amount to a lot of money for many families.
If someone is handling the estate of a deceased member who hasn’t received their refund, they should get in touch with Sawnee’s Customer Service. They can call at (770) 887-2363, text 678-999-8124, or email [email protected] to see if they can get an early refund of the patronage capital.
For more details about this general return of patronage capital, people are encouraged to contact the same customer service number or email, or they can visit www.sawnee.com/patcap to watch an informative video.