By The True Citizen
Planters Electric Membership Corporation (EMC) is accepting applications for the Planters EMC Scholarship. All high school seniors who are the son or daughter of a Planters EMC member are eligible to apply. Applications must be submitted by 5:00 p.m. Friday, April 12, 2019, to be eligible for the randomly drawn scholarship.
More than fifty scholarships in the amount of $1,000 each will be awarded. Students may download an application from the Planters EMC website at www.plantersemc.com under Forms. Complete the application and mail or drop off by any Planters EMC office location in Millen, Sylvania or Waynesboro on or before the deadline.
Planters spokesman Randy Hill said this week that, “the scholarships are made possible through Planters EMC’s unclaimed capital credits. A 2005 Georgia law allows electric membership cooperatives to use capital credits unclaimed after five years to fund education, economic development or charitable organizations within the EMC’s service area.”
Hill explained that capital credits, or patronage dividends, are margins that exceed the cost of providing service for member-owners of an electric cooperative for a given year. According to cooperative guidelines, capital credits may be returned to EMC members on a schedule determined by their co-op’s management and Board of Directors.
Until 2006, unclaimed capital credits were paid to the Georgia Department of Revenue, under Georgia’s Disposition of Unclaimed Property Act. Since 2006, Planters EMC has awarded $541,000 in scholarships to local students.
Planters EMC is a memberowned electric cooperative providing electricity and related services to 12,700 members in Bulloch, Burke, Effingham, Emanuel, Jenkins, Richmond and Screven counties.