Unclaimed Funds Notification

Union Rural Electric Cooperative (URE) is attempting to locate former members who have unclaimed funds remaining from the 2021 general retirement refund, which included member credits, also referred to as capital credits, from service years 2001 and 2020.

Member credits differentiate electric cooperatives from investor-owned utilities. They represent each member’s economic share of the co-op and are a direct benefit of membership in URE.

As a not-for-profit cooperative, URE annually allocates to members any revenue that remains after expenses are paid. The allocation is based on the amount of electricity purchased during a particular year and is applied to each member’s credit account.

Allocated member credits are given back to members after a period of time, provided the co-op’s financial position is not jeopardized. During that period, the cooperative uses the member credit funds as operating capital. URE’s board of trustees must approve all member credit refunds.

The cooperative’s Code of Regulations also provides for the reallocation of member credits. Members are granted a period of 4 years, plus a 60-day public notice period, to claim the member credits refunded to them under the general retirement program. At the end of that time, unclaimed member credits are reallocated to the membership.

URE has prepared a list of names of former members with unclaimed funds. The list is available on our website. Printed copies are available at the URE office. If you recognize anyone on the list, please ask that person to contact URE to claim the member credits funds due to them. If the listed member is deceased, the individual’s heirs or representative should contact URE.