Unclaimed Capital Credits
If you were a United Power member prior to 2008, and are no longer served by United Power, we may have a Capital Credit refund for you. Cooperative members periodically receive capital credit retirements, based on their electric use during a specified time period.
If your name appears on this list, the amount you will receive is based on the amount of power you used, and the rates paid for the time period being retired. If the customer is deceased the credits may be claimed through the estate.
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Who is Eligible?
- If you were a United Power member for any period of time up through December 31, 2007.
- No longer receiving power from United Power. Current customers are not eligible.
- May be the account of a deceased member – the credits may be claimed by the estate.
I Found My Name, What Do I Do Next?
- Fill out the Patronage Capital Request Form (pdf).
- Return forms to United Power by April 15, 2012.
- As the applicant, it is your responsibility to prove your identity to United Power, so fill out the form as completely as possible.
How Long Will This Take?
After United Power receives your completed Patronage Capital Refund Request form, it may take up to eight weeks for us to research and process your claim. If your claim is accepted, you will receive a capital credit check. If your claim is denied, you will receive a letter explaining why the claim is not being accepted.
Frequently Asked Questions
What are Capital Credits?
Capital credits represent each member's investment into the cooperative. Because cooperatives do not earn profits in the sense that other businesses do, any margins or revenues remaining after all expenses have been paid are returned to the members in the form of capital credits. Your share is determined by your electric usage.
Why aren’t current customers eligible?
If you are a current member, and the board elects to refund capital credits, your refund is sent directly to your current address or applied as a credit on your electric bill. The members on this list are due to receive refunds from previous years and United Power has not been able to locate them.
What Happens to Unclaimed Capital Credits?
United Power’s bylaws outline the procedure for notifying customers. United Power’s bylaws can be found here. Once these requirements have been met the unclaimed capital credits will revert to the cooperative and the outstanding capital credit account will be considered closed.