“I am continually able to invest in myself, whether it’s having extra time to study, go to office hours, or attend an extra lecture series or professional development workshop. “My scholarship has provided me with some sense of financial freedom because I don’t have to take time away from my studies or extracurricular activities to work a job to pay for my studies,” said Garcia. The company supplies energy to 133,000 residential, business and industrial accounts in 10 northeast Georgia counties.įor Galilea Garcia, a first-generation college student, the Walton EMC Scholarship has been a game-changer. Walton EMC is one of the largest of almost 1,000 electric cooperatives in the country. Lee, a 1969 graduate of UGA with a degree in agricultural engineering, noted Walton EMC hired one of the first graduates of the newly-established UGA College of Engineering and the college is “in our backyard”-both points of pride for the company. “Our endowment and scholarship will not only help us continue to serve our customer-owners by having good engineering talent available, it also helps many deserving young people to simply make the world a better place by solving challenges through engineering.” “Our customer-owners deserve reliable electric service and reasonable rates-it takes good engineering to make both of those things possible,” said Ronnie Lee, CEO of Walton EMC. “With this latest gift, the college will be able to fully endow the Walton EMC Engineering Leadership Scholarship so these awards will be available to deserving students for generations to come.”Įstablished in 2017, the Walton EMC Engineering Leadership Scholarship provides five renewable annual awards of $10,000 to outstanding students enrolled in the College of Engineering as well as high school students who’ve been accepted into UGA as intended engineering majors. “Walton EMC has been a great partner of our college for many years, and their support has a significant impact on our students-particularly the company’s scholarships,” said Donald Leo, dean of the College of Engineering. Walton EMC is a customer-owned power company that serves 128,000 accounts over its 10-county service area between Atlanta and Athens.Walton Electric Membership Corporation (EMC) has made a $1.3 million gift to the University of Georgia College of Engineering to endow the utility’s scholarship program, the largest one-time donation in the college’s history. But every penny of these margins is credited to the co-op's customer-owner accounts and is eventually returned. Some of the co-op's excess income – called "margins" – is used to pay down debt and prepare for emergencies. When are refunds made? Walton EMC distributes capital credit refunds when it's financially prudent. But, if the refund is more than $500, a check will be issued. How are refunds distributed? Most customer-owners will receive the credit on their December or January bill, saving tens of thousands of dollars in printing and mailing costs that check distribution would require. It doesn't make sense to profit from yourself, exemplifying one of the seven cooperative principles Walton EMC operates by: member economic participation. Any money collected over what it takes to operate is returned to those who paid it. Why are these refunds given? Walton EMC's customers also own the company. The more a customer-owner spent with the co-op, the larger their refund will be. The amount each customer-owner receives is in proportion to the total of their electric bills during the years of 1993, 1994, 19. The year's refund will start appearing on electric bills beginning in December. The latest refund brings the total returned by the co-op to $99,571,000. The cooperative's board of directors has approved the return of another $6 million capital credit refund. Most Walton Electric Membership Corporation (EMC) customer-owners will soon receive a nice refund.
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