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Capital Credits Q&A
Capital Credits Q&A
In 2021, capital credits checks will be mailed Oct. 1.
GreyStone’s philosophy as a cooperative means you reap the benefits for which the cooperative was formed. Instead of assigning money at the end of each year to non-member shareholders, we return it to those who own and use GreyStone Power – you, the member-owner. And we do this in the form of capital credits checks.
What are capital credits?
Each year, GreyStone returns a portion of prior years’ margins (known as profits in a for-profit business) to members. Capital credits checks, mailed every fall (near the end of September or early October) represent a portion of the margins from the most recent year and the oldest previous year(s). This year, you are receiving a return of your investment in GreyStone from the years 2002 and 2020. Only those receiving power from GreyStone in those years will receive checks.
The amount is determined by the portions of your energy use. GreyStone has returned more than $157.1 million in capital returns to members since 1936, and the latest installment amount to be returned to members for their investment in the cooperative is $8 million.
What happens to a member’s capital credits if they pass away?
The heirs of an estate may apply for the balance of a deceased member’s capital returns. Download and complete this Application for Deceased Patron's Capital Credits. If there is a will, it should have been probated or filed with the Probate Court.
Why are some capital credits unclaimed?
Members move out of GreyStone’s service area without leaving a forwarding address. This leaves GreyStone with no way to send members their checks for the balance of retired margins from several years ago.
What will happen to the unclaimed money?
In the past, unclaimed balances were given to the State of Georgia. But in 2005, the state legislature passed House Bill 431, allowing cooperatives like GreyStone to use these unclaimed funds to support community programs, education, and economic development.
How can I find out if I have money that I haven’t claimed?
After four years, unclaimed balances are listed in a searchable database on GreyStone’s website. Simply type in the name your electric service was under and click to see if your name and former address appears on the list. If it does, contact us (see “How do I file a claim?” below). If a listed member has passed away, the legal heir may be eligible for the funds. Click here to search the database.
How do I file a claim?
If you believe you are entitled to an unclaimed capital credits balance, contact us at 770.942.6576 or complete an online form. At least three forms of identification will be required in order to receive funds, including photo identification and a document showing proof of former residence at the address shown in our database.
How do I file for capital returns related to Redesignation or Dissolution of a Commercial Entity?
If a business or other commercial entity has been purchased or has changed ownership, please complete the Redesignation Application