Retirement of $5.5 Million on its way to Members Beginning in May

United Power is more than your local electric utility and you are more than a consumer. Over the past year, we’ve had to weather the COVID-19 pandemic together, making provisions for the health of the cooperative and also to support our members. From establishing a relief fund for struggling members to temporarily suspending disconnects, you are at the center of who we are and what we do. The decisions we made weren’t to satisfy invisible investors or salvage profits, but to serve both our members and our communities as they navigated difficult circumstances. It’s just part of what makes cooperative membership different.

Another member benefit that sets us apart is the retirement of capital credits. This year, our members will be part of United Power’s 15th consecutive retirement. If you are new to the cooperative or unfamiliar with capital credits, these represent your investment in the co-op. Here’s how it works:

Becoming a Member

The moment you activate electric service from United Power, you become a member and an owner in the cooperative. As a member, you have unique privileges, one of which is the principle of economic participation. A portion of each electric bill goes toward the cooperative’s operation and infrastructure, which you have an ownership stake in.

Members may also vote annually in board elections or run for a seat on the board to make their voices heard. (A full recap of the 2021 Annual Meeting is available on page 10.) By actively engaging and participating with the cooperative, you will always have a voice in our operation.

Allocation of Patronage Capital

Every spring, United Power looks at the prior year and any funds remaining after all expenses are paid are allocated to members based on the prior year’s electric consumption – the more power you use, the larger your allocation.

The allocation is not a check, but a representation of your ownership in the cooperative, i.e. the amount of money you have invested into the electric system based on your electric consumption. The funds are tracked, but not accessible in the form of cash. You are notified of your allocation amount on your bill in May or June each year.

Retirement of Capital Credits

Each year, the Board of Directors carefully assesses the financial condition of the cooperative and determines what amount of capital credits to retire. If the Board decides a retirement is feasible, the money is paid out, or “retired,” from each member’s account. This year, the Board approved a $5.5 million retirement. Those retirements will be distributed beginning in late May or early June.

Anyone who had service in 2020 or earlier will be eligible to receive a refund. Members who receive a refund less than $50 will see it reflected on their billing statement as a credit, and refunds more than $50 will arrive as a check. Look for this credit on your bill in May or June.

“There is not a more tangible benefit of cooperative membership than receiving money back on your investment in the utility itself,” said Mark A. Gabriel, United Power’s President and Chief Executive Officer. “Your investment not only makes you an owner, but helps ensure the resiliency of our system, the reliability of your power and the affordability of our rates. It is a tangible representation of your value as both a member and an owner.”

Capital credit retirements have returned a steady stream of money back to members in recent years. During the past 15 years, the cooperative has been able to retire millions of dollars back to its members.

Want to learn more? Frequently asked questions about capital credits can be found on cooperative's Capital Credits page or you can call a member services representative at 303-637-1300.

IMPORTANT REMINDERS

• If you move, please be sure to leave your new address with us so we can continue to refund any capital credits you are eligible to receive in the future.
• Upon death, the deceased member’s capital credit account is available for estate retirement. The representative of the estate should contact United Power to settle the capital credit account.

Charger Station Part of Co-op's Growing EV Charging Network

Brighton, CO – United Power announced Tuesday its second electric vehicle charging station is now operational and available for public use. The new charging station is located at the Market Street Mart in Keenesburg, filling a gap in available charging options for rural electric vehicle owners and drivers between Brighton and Fort Morgan. Both cooperative charging stations are available on the ChargePoint network.

“United Power has made a commitment to providing innovative technologies that are beneficial for members,” said Energy Programs Director Joel Danforth. “This installation not only helps us continue to fulfill that commitment but also keep pace with the emerging trend toward electric vehicles.”

The Keenesburg charging station is a 62.5 kW direct current (DC) fast charger available for anyone who has set up a ChargePoint account. Anyone can set up a ChargePoint account using the mobile app or an activation card available through the mail. The charging station was installed with the help of a grant from the Colorado Energy Office’s Charge Ahead Colorado program.

United Power has invested in several educational resources for members interested in electric vehicles. The cooperative launched its Choose EV web portal in June, providing a wealth of information about both electric and plug-in hybrid vehicles. It also hosted a live webinar for National Drive EV Week to provide additional education and alleviate common concerns and hesitations about purchasing an electric vehicle.

The cooperative installed its first charging station at its Coal Creek office in 2019. United Power leadership continues to look at the electric vehicle landscape and consider programs that will offer the best benefit for members, including additional charging locations in its growing network.

“We have made a consistent effort to invest in electric vehicle resources for members over the past couple years,” said Mark A. Gabriel, United Power’s President and Chief Executive Officer. “Our goal is to provide the right opportunities and the right programs that make electric vehicles practical and accessible for more of our members, especially those who live in rural communities.”

United Power is a member-owned, not-for-profit electric cooperative, delivering electricity to homes, farms and businesses throughout Colorado’s northern front range. As one of the fastest-growing electric cooperatives in the nation, the utility will join the elite ranks of cooperatives serving more than 100,000 meters by the end of this summer. The 900 square mile service territory extends from the mountains of Coal Creek and Golden Gate Canyon, along the I-25 corridor and Carbon Valley region, to the farmlands of Brighton, Hudson and Keenesburg. For more information about the cooperative, visit www.unitedpower.com or follow them on social media Facebook, Twitter, LinkedIn, YouTube and Instagram.

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Jim Jaeger is Remembered for His Commitment, Support of Local Community

Brighton, Colo. – Former United Power director Jim Jaeger, who passed away on April 13, is remembered as a valuable member of the Brighton community. Jaeger was a longtime business owner and lifelong community servant, known for his activity as a volunteer and a strong supporter of local sports. He was dedicated to representing members of his community and making the world a better place for those less fortunate.

Jaeger joined United Power’s Board of Directors in March of 2002 as a representative in the cooperative’s South District and served until his retirement in 2014. When elected to the board, Jaeger said he knew little about cooperatives or distributive electricity, but he learned quickly and was passionate about directing United Power toward member-first initiatives and programs and guiding it through challenges.

While sitting on the board, Jaeger served as both vice president and secretary/treasurer, each for two years, and represented the cooperative on the Colorado Rural Electric Association’s board for five years. In addition to serving on the United Power board, Jaeger also represented his community on the local school board for eight years.

“We are saddened by his passing,” said Troy Whitmore, the cooperative’s Government & Regulatory Relations Officer. “He truly was a pillar of his community, an honorable man and a good friend. He will be greatly missed.”

United Power a member-owned, not-for-profit electric cooperative, delivering electricity to more than 99,000 meters at homes, farms and businesses throughout Colorado’s northern front range. The 900 square mile service territory extends from the mountains of Coal Creek and Golden Gate Canyon, along the I-25 corridor and Carbon Valley region, to the farmlands of Brighton, Hudson and Keenesburg. At the end of 2020, the cooperative reached more than 97,000 meters representing more than 300,000 members. For more information about the cooperative, visit www.unitedpower.com or follow them on Facebook, Twitter, Instagram, YouTube and LinkedIn.

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