SAN ISABEL ELECTRIC ASSOCIATION
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More than $1.4 million dollars in capital credits were retired by the San Isabel Electric Board of Directors at their August meeting and more than 21,000 checks were mailed to Members on Friday, September 8th.
Checks range from $10 to hundreds of dollars for residents, school districts, businesses, and a few larger businesses and government agencies receiving several thousand dollars.
Most utilities pocket left over money as profit when revenues are more than expenses. Because San Isabel Electric is a not-forprofit electric utility that unspent money is set aside for memberowners as a capital credit, based on the amount of energy each member purchases. When it's financially safe to do so, the Board of Directors retires (returns) the capital credits to members. Members receive their share as a check right in their mailbox.
'Colorado City Metropolitan District is appreciative to be able to have a relationship with San Isabel Electric and receive $3,460 Capital Credit money that can be used in all departments by usage and set aside for matching grant funding. We are also appreciative for the grand thing that San Isabel Electric has done for our communities by sponsoring events, scholarships to the youth, or special projects,' Colorado City District Manager James Eccher said.
'Retiring capital credit represents our promise to give back to those who have invested their hard-earned money and trust in us to provide safe, affordable, reliable electricity.' San Isabel Electric General Manager Ryan Elarton said.
Nearly $3 million in capital credits has been returned to the membership in the past two years.
This year, members from 19781983, 1991, and 2021 received capital credits checks in the mail, reflecting all or part of their ownership of the cooperative during those years.
Members are encouraged to leave forwarding addresses with San Isabel Electric should they move off the system. In the case of a member's death, a representative of the estate should contact San Isabel Electric to determine the status of the member's capital credit checks, both now and in the future.
San Isabel Electric attempts to notify members whose checks have not been cashed by listing their names in a notice of unclaimed capital credits April 1 each year in Colorado Country Life and updating the searchable unclaimed capital credit database on the co-op's website.
If the capital credit is not claimed within three years of when the name is first published, the Board of Directors returns the money to the communities we serve in the form of community donations, sponsorships, and scholarships.
For more information about San Isabel Electric's capital credit program, visit siea.com/capitalcredits< https://siea.com/capitalcredits>.
