Some Sawnee Electric Membership Corp. members will see a credit on May power bills.
Leaders of the corporation are planning a general retirement of 1987 patronage capital.
Through the process, people who were Sawnee EMC customers 24 years ago will receive a portion of more than $4 million in patronage capital funds.
Patronage capital is revenue provided by the members of Sawnee EMC through energy bills during a particular period that is in excess of operating costs and expenses.
Those who are still members will receive a credit on May bills, while former customers will receive a check to their last known address. Customers included in the plan soon will receive a letter advising them of the details and the amount they will receive.
“We want our members from 1987 to be aware of the refund and to know that we will soon be sending back what is the largest single year retirement of patronage capital in our history,” said Blake House, Sawnee’s vice president of member services.
The refunds, which will vary, are based on the amount of patronage capital assigned to each member’s account in 1987, minus any amount owed to Sawnee EMC.
Checks to former members will be mailed around June 10.
Sawnee EMC also refunds patronage capital throughout the year to the estates of deceased members.
Executors of estates of former members should contact Sawnee’s Customer Service Center at (770) 887-2363.