Pitt & Greene Capital Credits
Pitt & Greene EMC is a nonprofit electric cooperative owned by the members it serves; therefore, its key objective is to provide electric service to its members at a cost. All electric revenue taken in above the cost of operating the cooperative is returned to the members in the form of Capital Credits.
At the end of each calendar year, the allocation of Capital Credits is made and assigned to a Capital Credit account for each member. Pitt & Greene EMC returns these Capital Credits on a cycle as determined by the Board of Directors.
The money is used by the cooperative for maintaining and upgrading your electrical system until a retirement is made to members. By using this money for a period of time, the cooperative can save by not borrowing money and paying interest.
Payments to estates of deceased members continue to be made upon presentation of a death certificate and proof of administration to the cooperative.
Members should keep the co-op informed of address changes in order that all future Capital Credit checks may be properly addressed.