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Friday, August 19, 2022

LPEA seeks members due to receive capital credit refunds

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.

The LPEA Board of Directors determines how much patronage capital should be retired on a year-by-year basis. Those funds are 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 cannot 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 outlined in LPEA’s bylaws. Unclaimed capital credit funds support LPEA’s scholarship and grant programs and contribute to educational and nonprofit community projects in La Plata and Archuleta counties.

The complete list of unclaimed capital credits is available at lpea.coop/capital-credit-refunds. It will also be published in The Pagosa Springs SUN. To claim funds, members must call LPEA directly at (970) 247-5786.

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