Despite the increase in electronic payments to nearly 60 percent of total monthly payments, 20 percent of members still mail a check each month. Since 1997, Wake Electric has used a remittance processing service provided by others. The larger processing centers were able to use the latest technology, including high-speed automated check processing equipment.
In 1997, members certainly noticed that they were mailing their check to Louisville, Kentucky rather than Wake Forest, North Carolina. Some called to confirm the address and some asked if we had moved to Kentucky.
More recently, we have shared check processing equipment with our neighboring electric cooperative. That’s why our current mailing address for payments is a post office box in Hillsborough, North Carolina. As the technology has improved and the equipment cost has come down, we think the economics have improved to the point that we can efficiently process checks in our office in Wake Forest.
It will take a couple of months to install equipment and train employees so continue to mail your check as usual. When we make the change, we will print the new address on the back of your bill stub. The new Wake Forest mailing address will appear in the window of the return envelope.
It will have been nearly 20 years since members mailed payments to Wake Forest. It’s taken a while to come full circle. We look forward to the change.
Questions about electronic payments? Suggestions for future topics to discuss? Please contact us at MAC@wemc.com.