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SAWNEE EMC TO GIVE SPECIAL REFUND OF PATRONAGE CAPITAL Story Contact: Blake House (Cumming, February 20, 2009) – With all of the financial stress on our economy, people’s pocketbooks are getting stretched to the max. The cost of everything…from groceries to heating costs… seems to be increasing daily. Sawnee Electric Membership Corporation wants to do all it can to help members through these tough economic times. To that end, Sawnee Electric Membership Corporation (Sawnee) is planning a ‘special’ early retirement of patronage capital in order to give members an unexpected refund on their March 2009 energy bills, five (5) months ahead of the normal schedule. As an electric cooperative, each year Sawnee members receive a ‘patronage capital’ assignment based on the amount of capital they have provided the Cooperative through their electric bill; this is an allocation of the revenue in excess of costs. Patronage capital is required to be collected and Sawnee sends these funds back to those members that provided it, once allowed by the Bylaws of the Corporation and as approved by the Board of Directors. Here is the good news. Sawnee EMC members that received service in 1984 and/or 1985 will be eligible to get the patronage capital credit that was assigned to their account. A total of over $2.7 million will be distributed this year, with the average refund being about $89. For current members of Sawnee that were members in the 1984 and/or 1985, a credit will appear on their March 2009 electric bill. Each qualifying member’s refund will vary. “It is important for Sawnee EMC to demonstrate through this action that the cooperative business model works for our members and our organization,” states Michael Goodroe, Sawnee’s President and CEO. He added, “This decision was carefully considered by our Board and, at this very stressful time and given the overall financial health of the organization, we are pleased to undertake this action.” Former members who no longer receive electric service from Sawnee EMC will be mailed a check for the current refund amount to their last known address on or around April 24, 2009. This is not the only refund of patronage capital that Sawnee makes throughout the year. Blake House, Vice President of Marketing and Member Services states that, “Sawnee EMC refunds patronage capital upon demand to the estates of deceased members.” For 2008, Sawnee made over $260,000 in refunds to estates of decreased members. For more information about this program, executors of estates of former Sawnee members should contact the Customer Service Center (at 770-887-2363) to find out if your family member’s estate is entitled to a patronage capital refund. Sawnee EMC is a member-owned electric cooperative and it supports the principles that have made cooperatives the most successful public/private partnership in our government’s history. These cooperative principles anchor Sawnee EMC firmly in the communities they serve. Sawnee hopes that all of the members appreciate this early refund. About Sawnee EMC Sawnee Electric Membership Corporation is an electric distribution cooperative headquartered in Cumming, Georgia. Sawnee serves electricity to over 148,000 accounts in seven (7) counties in greater north Georgia. Sawnee’s assets exceed $467 million, with average annual energy sales of three (3) billion kWh and annual revenue of $291 million. With a team of approximately 300 dedicated professionals and over 9,800 miles of distribution facilities, Sawnee stands ready to meet the needs of its member/owners…At Sawnee, We’re More Than Electricity, We’re Service.
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