As an electric cooperative, our business model is unique and it’s all about you, our members. Unlike investor-owned utilities, Horry Electric is a not-for-profit business. That means we operate on just enough to run the business. Instead of existing to earn a profit for shareholders, we exist to serve our member-owners in the best way possible.
At the end of each year, we determine if there is excess revenue above what’s needed to run Horry Electric.
As a non-profit, we work to return any excess revenue, also called margins, to our member-owners.
We allocate the margins to members as capital credits based on their electricity use that year.
When our financial standing allows, the board of trustees retires the capital credits and gives money back to members.
We then issue member-owners their capital credit refunds in the form of a check or account credit on the April bill.
Each year our excess revenue is allocated to members as capital credits. Those credits are held in reserve for a period of time and used to better serve you on things like system improvements and infrastructure development. As finances allow, we’re thrilled to give money back to you in the spring in the form of a capital credit refund.
Capital credits rewarded in 2021
The names of past and present Horry Electric Cooperative members with unclaimed capital credit funds can be searched using our Unclaimed Capital Credit database. This database is updated on a regular basis. If your name is on the list, please complete the request form with your current information and a representative will contact you within 5 business days.
Search our UNCLAIMED CAPITAL CREDITS database.
Capital Credits are considered property and must go to Probate before payment requests can be made. Capital Credits may be paid out to the estate of a deceased member if the proper legal documents are provided. Contact a Member Service Representative if you wish to close out the capital credits of a loved one.
Capital Credits may be paid out to a legally dissolved business entity if the proper legal documents are provided. Contact a Member Service Representative if you wish to close out the capital credits of a business.
If you move, be sure to provide us with your forwarding address so we know where to send your capital credit refunds.