CEO’s Message – December 2023

As the holiday season approaches, we are pleased to announce that your electric cooperative will return $270,000 in capital credits to its members. This year’s distribution is a testament to the cooperative’s commitment to its members, and it is our pleasure to share our financial success with you.

The capital credits distribution will take place this month (December), just in time for the holiday season. This is our way of giving back to you during this special time of year. If you were a Halifax EMC member receiving electric service during 2002, you should be receiving capital credits. Eligible members will receive capital credits in the form of a check if the amount is more than $99 or as a credit on your December or January electric bills for any amount less than $99.

As an electric cooperative, Halifax EMC operates as a not-for-profit for you, the member-owners. Your capital credits represent one of many ways members take part in the cooperative. Attending an annual meeting, serving as a board member, and voting in board elections are all forms of member participation but, as demonstrated by capital credits, all members participate in the cooperative financially. Capital credits are a pillar to the financial success of the cooperative. The capital contributed to the cooperative by members is used to offset borrowed money allowing the cooperative to keep rates lower for the membership. The cooperative model of raising capital within the membership embodies the principle that by working together within our community we can achieve more.

Your share of the cooperative’s margins (revenues that exceeded expenses) reflects your support and patronage over the past year. These margins are retained by the cooperative for a number of years as operating capital, helping reduce the amount of money borrowed to run the business, thus keeping rates lower. This tradition of returning capital credits highlights our cooperative’s mission to benefit you, our members.

As members, you are at the heart of our cooperative, and your support allows us to continue delivering reliable and affordable electric service to our communities. We look forward to continuing to serve your energy needs in the years to come.

If you have any questions about the capital credits distribution or any other matter related to your cooperative membership, please don’t hesitate to reach out to our friendly member services team. We are here to assist you.

Thank you for being a part of our cooperative family. Your trust and commitment are deeply appreciated. We wish you and your loved ones a joyous holiday season and a bright and prosperous year ahead.