Local, trusted and built to serve you. Happy Co-op Month!
October 2017
YOU’VE GOT
CASH! Cobb EMC gives $13.6 million to members www.georgiamagazine.org
Cobb EMC gives $13.6 million to members At Cobb EMC, you are more than just a customer to us. Our cooperative is owned by our members/customers, much like a credit union, and we begin each day with a strong focus on providing all of you reliable electricity at the lowest possible price. Our rates are among the lowest in the state, but last month, we were also able to give $13.6 million to our members!
Chip Nelson President and CEO
As a not-for-profit business, we exist to provide you electricity – not to make a profit. When we have a good year and earn profits or margins, we can give cash back to our members. It’s one of the things that makes an electric co-op unique, and it’s one of the many benefits of being a Cobb EMC member.
Your board of directors (who are elected by our members) can vote to return excess revenue, based on the financial health of the company. The money you receive – known as capital credits – is your individual portion of the cooperative’s profits. Cobb EMC leaders have worked diligently to plan for and secure future power needs for the co-op, while operating our co-op efficiently. As a result, our board of directors voted to return 100 percent of the excess revenue that was received for 2016. During September, you should have received a check or bill credit, based on how much you paid for electricity during 2016. We’re proud to keep money where it belongs – in your pocket. Whether it’s keeping our rates among the lowest in the state or returning excess revenue, we’re honored to serve you and to bring you savings. Thank you for the opportunity to power your lives, homes and businesses.
Here’s how capital credits work: Cobb EMC tracked how much energy you used and paid for in 2016.
cobbemc.com
Members who received power from Cobb EMC in 2016 received cash back in the mail. If the amount was less than $10, members received cash back in the form of a bill credit.
The board of directors looked at the company’s financial condition to decide whether to give cash back to members.
Cash back (known as capital credits) is your individual portion of the cooperative’s profits (margins).
Cobb EMC is locally owned and controlled by you – our members – to serve your needs. As a not-for-profit electric co-op, we’re here to power our communities and empower you to improve the quality of your lives. See the power of co-op membership:
Rates are low! $100 million saved
Cobb EMC is ranked one of Georgia’s most affordable electric providers.
Cobb EMC members have
saved over $6.5 million with Gas South since 2007. Gas South offers Cobb EMC members exclusive permanent discounted rates, no deposit (up to a $150 value) and no connection fees ($60 instant savings).
The Georgia Public Service Commission ranks Cobb EMC 10th lowest in the state among 94 electric providers.
$13.6 million back in your pockets Cobb EMC gave $13.6 million to members who received electric service from the co-op in 2016.
cobbemc.com
Co-op members have saved over $100 million on prescription purchases with the Co-op Connections® Card.
BRINGING YOU THE POWER OF MEMBERSHIP
cobbemc.com
We’re proud to power your lives At Cobb EMC, we have only one thing in mind: powering homes and businesses safely, reliably and at the best possible price. We’re always in the background, and we’re here when you need us, powering your lives and brightening our community. www.cobbemc.com/myemc