SMECO newsletter

volume 65 - issue 12 - december 2015

Is there money waiting for you?

You may have unclaimed capital credits from checks mailed in 2012.

As a cooperative, SMECO is owned by its customer-members. Members finance their business by using SMECO’s services and allowing the Co-op to retain any money collected in excess of actual operating costs. The money is used to build and maintain the facilities needed to serve the Co-op’s members and to service our long-term debt. This money is capital furnished by the members—capital that is returned to the members at a later date as Capital Credits. Capital Credits are refunded at the discretion of the Board of Directors.

In 2012, Capital Credit checks were sent to the last known addresses of all customers who were eligible for refunds. The checks represent a percentage of the Capital Credits earned from electric service provided from 1981 through 1985. Some of the Capital Credit refund checks have not been cashed and SMECO would like to refund these unclaimed Capital Credits to the rightful owners.

Check the list for your name, or the names of family and friends. Refunds must be claimed by January 31, 2016.