LPEA is seeking current and former members who are due to receive Capital Credit refund monies. Capital Credits represent member investment in the cooperative and are credited to members based on the amount of electricity they consume.
As a cooperative utility owned by its members, LPEA regularly returns Capital Credits to its membership. Each year, the LPEA Board of Directors determines how many Capital Credits should be retired based on the cooperative’s financial situation. Those funds are then returned to members as a bill credit or check. 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 non-profit community projects in La Plata and Archuleta counties.
The complete list of unclaimed Capital Credits is available here. It will also be published as an insert in the Durango Herald and the Pagosa Springs Sun. To claim funds, members must call LPEA directly at (970) 247-5786.