Unclaimed Central Electric Retirement Checks
March 23rd, 2015
By James Taylor
Sanford, N.C. (March 23, 2015)- Central Electric may be holding an unclaimed capital credit retirement check in your name from 2011. The great thing about being a part of a cooperative is that our members are really “member-owners.” When Central Electric is able to do so, we take any excess funds after expenses are paid and over time return them to our members. These excess funds are known as capital credits. That means the member-owners financially share in the successful operation of the cooperative. Capital credits are one of the tangible benefits of being served by a co-op.
Between 2009 and 2014, Central Electric has retired more than $7 million in capital credits for the service years of 1982 through 1994. Often, members who are entitled to capital credit distributions have moved and it is difficult to locate these individuals. If a capital credit check is returned to us or remains uncashed, we make every effort to locate the person entitled to the check. However, if a person cannot be located, the N.C. State Treasurer’s office requires these funds to be turned over to the state.
Visit the Quick Links or Forms and Applications sections at CEMCPower.com to see the full list of names that have an unclaimed retirement check from 2011. If you see your name or the names of family or friends, please have them contact Tabitha Whitlow at 919-708-1616. We appreciate your assistance in helping us ensure that everyone receives their capital credit benefit.