Amicalola EMC donates $500,000 to local communities
Amicalola EMC is a not-for-profit electric cooperative. The cooperative business model follows seven principles and one of those is members’ economic participation. Members contribute evenly to the assets of the cooperative, and members are given refunds of any monies that are over and above the cost to operate the cooperative. This year, the Amicalola EMC board of directors authorized a capital credit refund in the amount of $2.6 million to members who received electric service in 2002.
Members with active accounts receive a credit on their September power bill. Members who do not have an active account will receive a check in the mail if they’ve provided a current mailing address. Refunds that go unclaimed are held for another five years. Due to a 2005 change in Georgia’s unclaimed property laws, Amicalola EMC is now allowed to distribute these unclaimed refunds throughout the communities it serves for three purposes: education, economic development and 501(c)3 charities. It is important to note that state law will only allow these funds to be used for these approved purposes and will not allow the unclaimed refunds to be used to offset rates or pay power bills.
This year, Amicalola EMC is providing $500,000 in community funding. 2021 donations will include $134,500 in high school scholarships, $50,000 in Bright Ideas teacher grants, $10,000 to each local Chamber of Commerce, $10,000 to each local food pantry, $1,000 to each of 47 fire departments within the Amicalola EMC service area, $15,000 to the Reinhardt History Center, $20,000 to the Veteran’s Park of Pickens County, $80,000 to local economic development authorities, $20,000 to Dawson County FFA, $20,000 to area food banks and $20,000 to the Boys and Girls Club of North Georgia ($10,000 from Amicalola EMC and a matching $10,000 from CoBank, a national cooperative bank serving industries across rural America.)
Amicalola EMC continues to be a strong supporter of the communities it serves. While focused on providing safe, reliable and affordable electricity, Amicalola EMC continues to work for the sustainable development and improved quality of life for local residents.