Unclaimed Funds Notification

Do We Have Unclaimed Funds for You? Or Someone You Know?

Please review the list. If you know individuals or business owners whose names appear on this list, ask them to please notify the cooperative at (937) 642-1826 so that we can confirm their identity and inform them of their capital credits account status.

Union Rural Electric Cooperative (URE) is attempting to locate former members who have unclaimed funds remaining from the 2020 general retirement refund, which included member credits, also referred to as capital credits, from service year 2019.

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 fi nancial position is not jeopardized. During that period, the cooperative uses the member credits funds as operating capital. URE’s board of trustees must approve all member credits 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 member credit funds due to them. If the listed member is deceased, the individual’s heirs or representative should contact the co-op.