LPEA seeks members due to receive Capital Credit refunds

 

DURANGO, Colo. – La Plata Electric Association (LPEA) is seeking current and former members who are due to receive Capital Credit refund monies. Capital Credits represent ownership of LPEA and are credited to members based on the amount of electricity they use. As LPEA is a non-profit cooperative owned by its members, it returns Capital Credits to its membership when the board determines that financial circumstances allow it.

The LPEA Board of Directors determines how much patronage capital should be retired on a year-by-year basis. Those funds are returned to members either as a bill credit (for amounts less than $100) or as a check (for amounts greater than $100). 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 at lpea.coop/capital-credit-refunds. It will also be published in the Durango Herald and the Pagosa Springs Sun. To claim funds, members must call LPEA directly at (970) 247-5786.

LPEA is a member-owned, not-for-profit electric distribution cooperative serving La Plata and Archuleta, with segments of Hinsdale, Mineral, and San Juan counties. LPEA is the fifth largest cooperative of 22 in Colorado and aims to provide safe, reliable electricity at the lowest reasonable cost to approximately 35,000 members. Contact LPEA at (970) 247-5786 or visit lpea.coop for more information.

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