By Hillary Knox
La Plata Electric Association
La Plata Electric Association (LPEA) is seeking current and former members who are due to receive capital credit refund monies.
Capital credits represent ownership of LPEA and are credited to members based on the amount of electricity they use. As LPEA is a nonprofit cooperative owned by its members, it returns capital credits to its membership when the board determines that financial circumstances allow it.
Each fall, the LPEA Board of Directors determines how much patronage capital should be retired that year. Those funds are then returned to members either as a bill credit (for amounts less than $100) or as a check (for amounts greater than $100). Sometimes, these checks go uncashed or LPEA is not able to find a valid address on file to remit them.
After three years, these funds become “unclaimed” and are then used for educational or charitable purposes as determined by the LPEA Board of Directors, as set forth in the LPEA Bylaws. Unclaimed capital credit funds currently support LPEA’s scholarship and grant programs, and contribute to educational and nonprofit community projects in La Plata and Archuleta counties.
The full list of unclaimed capital credits is available at lpea.coop/capital-credit-refunds. It has also been published as an insert in The Pagosa Springs SUN. To claim funds, members must call LPEA directly at 247-5786.