More than 210,000 Jackson EMC members will receive a check in the mail this month. Both members and former members will receive a share of $9 million in margin refunds.
“As owners of a not-for-profit cooperative, members are entitled to a portion of the funds left over each year after all of the cooperative’s expenses are paid, which we call margin refunds,” said Board Chairman Chuck Steele.
Margins are refunded each December for a combination of years so both longtime and newer members, as well as former members, benefit from belonging to an electric cooperative. This year, margin refunds will go to those who received electric service from Jackson EMC in 1990 and/or 2016. The sum of each member’s refund check is calculated according to the amount each member paid for electric service during those years.
After this December’s refund, Jackson EMC will have refunded $124.5 million in margin refunds to its member-owners since the cooperative was founded in 1938.