Because EnergyUnited is a not-for-profit utility, when we make money beyond our operating costs, we return that money to our members in the form of “capital credits.”
Capital credits are allocated to each individual member based on how much the individual paid the cooperative during a particular period. Every member who has an account with EnergyUnited is a member of the cooperative. The amount of an individual capital credits refund depends on the length of time the member has been served by EnergyUnited and the amount the member has purchased from the cooperative.
In December 2018, EnergyUnited returned more than $3.5 million to members in capital credits, from years 1990, 2002 and 2003. Any inactive member or residential member that was scheduled to receive a capital credit of $15 or more was sent a check in the mail, but not everyone that was meant to receive a capital credit has claimed or deposited their check. Because the formula for distribution is based on prior years of operation, often members who are entitled to capital credits have moved and it is difficult to locate them. If the U.S. Postal Service returns a capital check to us, we make every effort to locate the person entitled to the check.
Please review the list of unclaimed capital credits below. If you see your name or the names of family, friends or associates, please have them contact EnergyUnited at 1-800-522-3793. We appreciate your assistance in helping us ensure that everyone receives their capital credit benefit.
What are capital credits?
EnergyUnited is an electric cooperative, owned by the members we serve. As a not-for-profit entity, any revenues remaining over and above the cost of doing business is considered as margins or “capital credits.” Any capital credits are then returned to you, our member/owners..
How do I participate in capital credit refunds?
Your membership with EnergyUnited activates your capital credit account and no additional action on your part is required. Capital credits are calculated for every member who purchased electricity during a year in which the cooperative earned margins.
Will I receive a yearly notification of capital credits earned?
Yes, printed on the July billing statement, you will find a message showing your capital credit allocation for the previous year.
How are capital credit refunds calculated?
The amount of capital credits you earn in a given year is based upon the amount of electricity purchased. Each member receives a credit based on a percentage for each dollar of electricity purchased.
Will I receive a capital credit refund each year?
Not necessarily. The EnergyUnited board of directors will analyze the financial health of the cooperative and will not authorize a refund if it is not in the best interest of the membership.
How and when will I receive my refund?
If a capital credit retirement is approved, a refund will appear on the December billing statement.
What happens to my capital credit refund if I am no longer an EnergyUnited member?
Your capital credits remain in your name until they are retired and it is important that you ensure EnergyUnited has your current address so that a check can be mailed to you
What happens to the capital credits when the member is deceased?
Upon the death of a member, capital credits are refunded to that member’s estate. If it is a joint account, and one spouse dies, we continue to retire capital credits to the surviving member. If both members pass away, we refund credits to the second estate.