\

CAPITAL CREDITS – HOW IT WORKS

by | Sep 26, 2024 | Uncategorized

San Isabel Electric is a not-for-profit cooperative electric utility, meaning we operate at cost. We allocate any excess money that wasn’t used for running the business or investing for the future back to you. We call that unused money “capital credit.”

  1. We track how much electricity you buy and how much money you pay for it throughout the year.
  2. At the end of the year, the company determines if there was excess revenue not used for operating and reserves.
  3. If there is an excess, the funds are divided up among member-owners as capital credits for that year, based on how much electricity each member-owner purchased.
  4. Every year, if it is financially safe to do so, the board “retires” the capital credits, or refunds the money back to you.
  5. SIEA sends capital credit refund checks in the mail, typically every September. If you receive a capital credit check, it reflects your share of the excess revenues based on the amount of electricity you used during the years of the capital credit retirement.
  6. If you don’t cash your check, your name goes on our Unclaimed Capital Credit list. The list is published in Colorado Country Life every April. It is also updated online at siea.com/capitalcredits where you can search for your name to see if we owe you money; you can file a claim if you find your name.
  7. We follow state law returning unclaimed funds. If your capital credit refund is unclaimed after three years, the funds cannot be used for operational expenses. Instead, the Board of Directors uses it to grant scholarships and to donate to community events and programs. You can learn more about how to apply for a donation at siea.com/donations.

CAPITAL CREDIT REFUND YEARS

In 2024, nearly $1.5 million in capital credits were retired. Member-owners who were members during 1992, 1993, 1984, 1985, and 2023 were issued a check. If your total capital credit refund was less than $10, the balance will be held until a $10 threshold is met, and then a check will be issued.

STAY IN TOUCH

Have you recently moved? We find that unclaimed capital credits are typically not claimed because we have incorrect or outdated contact information.

Because payments continue to be made many years after credits are earned, please ensure that San Isabel Electric always has your current mailing address.

To make sure you get your capital credit checks, email SIEA with your name and current address to