Vol73-8 August 2023
Member newsletter for Southern Maryland Electric Cooperative
SMECO issues capital credits to members
SMECO is refunding members’ capital credits totaling nearly $5.6 million. Of that total, a general refund of approximately $3 million was issued in July. Eligible active members are receiving credits on their bills, and checks are being issued to eligible former members. Special refunds of about $2.6 million will be paid throughout the year to include estates of deceased members.
Cooperatives represent a unique business model because they are not-for-profit companies owned by the customers receiving electricity—their members. Every time SMECO members pay their electric bills, they are investing in the cooperative, and we use that investment to improve reliability and service. Our members help to finance SMECO’s operations, and they realize one of the benefits of being a co-op member when they receive a refund. Read more at smeco.coop/capitalcredits.