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Co-op returning $3 million in capital credits to members

Capital CreditsNot many businesses pay you for buying something you wouldn’t want to live without, but electric cooperatives do!

This year, members of Horry Electric Cooperative will be receiving a portion of the capital credits assignment for 2003, 2004 and/or 2019.

The allowable retirement this year is $3,542,770.07 less $500,000 in estate payments. The total amount being distributed is $3,042,770.07, which includes the $1,203,283.67 balance of 2003, $1,537,486.40 balance of 2004 and $300,000 of 2019.

  • If you were a member in 2019, you will receive 1.34% of your 2019 assignment.
  • If you were a member in 2003 or 2004, you will receive the remaining unretired balance of your assignment for that year.

Capital credit disbursements are made by the end of April. Due to the expense of processing and issuing checks, members with refunds in amounts less than $25 will see a credit on their electric bill.

All refunds below $25  will be credited to the accounts of eligible active members when the account bills in April.

Members can calculate the approximate amount of their 2019 allocation and disbursement by using the chart shown below. It was designed to help members calculate and estimate what their capital credit check or electric bill credit might be.

allocation calculation

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Horry Electric has restructured rates to give you control of your bill. The restructured rates will be effective for all members beginning with September 2024 use that appears on your October 2024 statement. Advance Pay members will be effective October 1 for October use. Click below to learn more about rates and peak hours.