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Thursday, December 12, 2019
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More than $333,000 Waiting to be Claimed by San Isabel Electric Members-Owners
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More than $333,000 in unclaimed capital credits from San Isabel Electric is waiting to be claimed by their rightful owners.

Some people who buy electricity from San Isabel Electric may not realize that they are member-owners of San Isabel Electric, not utility customers. Being a member-owner comes with some great perks, like capital credits.

Capital credit is money back, based on how much electricity is purchased by the member-owner. Most utilities pocket left over money as profit when revenues are more than expenses. Electric co-ops set aside that money for members as capital credit, based on the amount of energy each member purchases. When itís financially safe to do so, the co-op retires or returns the money to members. Members receive their share as a check right in their mailbox.

In September of 2018, members from 1989 and 2017 received capital credits checks in the mail, reflecting their ownership of the cooperative during those years. A record number of 18,852 capital credit checks were mailed to San Isabel Electric members, returning $956,000 in capital credits to the co-opís membership. 6,681 of those checks that were mailed in 2018 were never cashed.

Following state law for unclaimed property, every April, the electric co-op publishes a list of unclaimed capital credits in service area newspapers and online.

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The Greenhorn Valley View is a weekly newspaper serving the communities of the Greenhorn Valley in Southern Colorado,
including Colorado City, Rye, San Isabel, Beulah and Hatchet Ranch.

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