The United Power Board of Directors has allocated an additional $250,000 to the cooperative’s Co-op Cares Fund for this year. The fund was created in April 2020 as a response to the COVID-19 pandemic, and was designed to provide financial assistance to members who have been directly impacted, especially by illness or job loss.
“We’ve seen an increase in the number of members who are struggling to make their payments because of the lasting effects of this pandemic,” said Laurie Burkhart, the cooperative’s chief financial officer. “The Co-op Cares Fund was the result of proactive measures by the cooperative to provide temporary relief to members who were unfortunately impacted in dramatic ways. The inability to make payments can be a serious burden to carry. We hope our Board’s additional allocation to the Co-op Cares Fund provides some measure of relief to our members.”
The cooperative was able to finance the Co-op Cares Fund by allocating funds from unclaimed capital credits, which are capital credits that were not claimed by former United Power members after several attempts to notify them over a period of years. This past year, the Board allocated $300,000 in unclaimed credits to the Co-op Cares Fund. An initial allocation of $250,000 was made in April, and an additional $50,000 was added later in the year after it was clear more assistance was needed for impacted members.
“The Co-op Cares Fund has been an important pillar in our strategy to provide support to our members during this difficult time, and complements the many other ways United Power is helping our members weather this situation,” said interim CEO Bryant Robbins in a December press release announcing the additional allocation. “Through this program, United Power has provided $550,000 in direct assistance to our members who have been financially impacted by COVID-19. We are proud to have already provided assistance to more than 1,500 members.”
In addition to the Co-op Cares Fund, United Power has various means of helping members stay on top of their electric bills, including payment arrangements, extensions, prepay, budget billing and assistance from local agencies. United Power encourages members to contact Member Services so we can connect them with the most appropriate assistance program for their situation.
“United Power has several ways to help members when they are having difficulty paying their electric bills,” stated Robbins. “All we are asking our members to do is pick up the phone and call us if they are having difficulty paying their bill. We can’t help you if we don’t know you are struggling.”
The Co-op Cares Fund will be available for assistance through the end of 2021, or when the fund is depleted. United Power members who are impacted by the current emergency or any other situation can reach our Member Services department at 303-637-1300.