United Power is attempting to issue unclaimed capital credit refunds to members who received electric service from the cooperative prior to 2015. If you were a customer up to December 31, 2014, you may be eligible to receive a capital credit refund.
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 member is deceased the credits may be claimed through the estate.
Who is Eligible?
- If you were a United Power member for any period of time up through December 31, 2014.
- Current members who have moved, changed account numbers or changed the names on their account may have funds to claim.
- 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 26, 2019.
- 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. Learn more about Capital Credits here.
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.