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    Thursday, October 10, 2019
    Central Georgia EMC Donates Funds to HCDA

    Pictured (L-R) Pierre Clement, Henry County Development Authority Chairman; Josh Fenn, Henry County Development Authority Executive Director; Dr. Mary Elizabeth Davis, Superintendent of Henry County Schools; Warren Holder, Central Georgia EMC Board Member; Joseph Henning, Henry County Chamber of Commerce President & CEO; Christy Chewning, Central Georgia EMC Member Engagement Coordinator. (Photo Credit: Barbara Ingram, Henry County Chamber of Commerce)

    Continuing its long history of community support and partnerships, Central Georgia EMC, an electric membership cooperative headquartered in Jackson, presented checks to the Henry County Board of Education, Henry County Development Authority and the Henry County Chamber of Commerce totaling $75,000 for community and economic development activities. The checks were presented by Central Georgia EMC’s Warren E. Holder.

    The funds come from unclaimed capital credits that remain with Central Georgia EMC after five years. Unclaimed capital credits were once remitted to the state of Georgia Department of Revenue, under Georgia’s Disposition of Unclaimed Property Act. Unclaimed capital credits remaining after five years can now stay in the communities served by Central Georgia EMC for the sole purposes of funding education, economic development and 501 (c) (3) charitable organizations in the EMC service area.

    Capital credits are margins over and above the cost of providing service for members of Central Georgia EMC for a specific year, after Central Georgia EMC’s financial obligations have been met. According to unique cooperative business principles, capital credits may be returned to each member on a pro-rata basis with a schedule determined by the respective EMC management and the board of directors. The amount of unclaimed capital credits will fluctuate annually, depending on the amount of capital credits refunded to members in a given year.
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