Cooperative pumps abandoned funds back into community projects
In an effort to make good use of idle funds left abandoned by former member-customers of La Plata Electric Association (LPEA) as unclaimed Capital Credits, the cooperative’s board of directors has awarded seven new Educational/Special Project Grants totaling $29,369 to non-profit entities in its service territory.
Capital Credits are in essence LPEA’s margins or revenues remaining after all expenses have been paid. Annually, the electricity payments made by members in excess of the cost to provide their electric service is placed into a patronage capital account in each member’s name. When the cooperative is able, Capital Credits are returned to members. The dollars become “unclaimed” when LPEA cannot find members deserving of the refund. The board has determined that these unclaimed funds should be invested in the community and thus established the Educational/Special Project Grants program.
LPEA, a Touchstone Energy Cooperative established in 1939, provides to its more than 30,000 members, with nearly 42,000 meters, safe, reliable electricity at the lowest reasonable cost, while being environmentally responsible.
For additional information, contact LPEA at 970.247.5786 or visit www.lpea.coop.