Capital Credits
Intermountain is a member owned cooperative and, as such, its margins, or profits, are ultimately returned back to the member/owners in the form of capital credits. These capital credits are paid to members when the Association's Board of Directors deems that the financial condition of the cooperative will not be impaired and that the payment is not in conflict with any limitations imposed by any lender.
Patronage capital is accrued to individual member accounts at the end of every year that the Association operates with a margin. In the interim period between the accrual of such capital credits and their payment to the member, this member equity is retained by the Association for working capital, storm damage reserves and contingencies. The Association returns capital credits on a percentage basis to all eligible members. Such return of capital credits is normally made in the spring of each year.
The Association attempts to return capital credits to all members who have accrued such patronage capital in past years. It is important, therefore, that consumers keep the Association informed of their current address even after they are no longer a member. At the present time, patronage capital accrued from the year 1982 through the present year is still owed to member-consumers and will be refunded in future years on a percentage basis.
*Please note that checks are not mailed to any member whose refund is less than $7.00.*
Capital Credits FAQ
Listed below are some of the most frequently asked questions by consumers regarding capital credits. If further explanation or more information is desired, please call IREA at 303-688-3100 or toll-free at 1-800-332-9540 and follow the prompts accordingly.
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Why didn't I get a check this year as I have in the past? |
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The minimum check amount which is issued is now $7.00. Based on the percentage method, if your refund was under that amount a check will not be issued. However, the next time a refund is authorized, that amount will be added to that refund. |
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How long do I have to cash my capital credits check? |
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Checks are good for 6 months (180 days). After that they are stale dated. If more than 180 days has lapsed, please contact the Association to see about getting it reissued. |
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My company is no longer in business, but the capital credit checks continue to come in the business name and my bank will no longer cash or deposit them, what should I do? |
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Please furnish IREA with a legal document showing proof of ownership of that business so that we may change the business name into the owner or owner's personal name.
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How do I remove the name of my spouse after a divorce? |
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Future capital credit refunds will continue to be issued in both names since the account covers the period of time that the electric service was in joint tenancy. If you wish to have the refunds issued to you alone, a relinquishment form would need to be signed and notarized.
A second option would be to split future refunds between both parties involved. If this is the desired options, then IREA would need a letter requesting the capital credits accumulated in both names be divided. This letter would need to state each party's name, current address and social security number if known.
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In the event of a death of an account holder, what is needed by the Association to process the disbursement of capital credits? |
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Please contact the capital credit department and they will inform you of the necessary documents required. The Capital Credit Department can be reached by calling IREA at 303-688-3100 or toll-free at 1-800-332-9540 and following the prompts.
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I have left your service area, but still receive checks. Don't they belong to the new owner? |
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The check you received does indeed belong to you. It covers the years that you had electric service in your name with Intermountain Rural Electric Association. At the present time, the patronage capital credits, which were allocated to consumers for the years 1982 through the present, are still outstanding. These credits will continue to be refunded in future years on a percentage basis and are usually made in the spring of each year. Therefore, it is essential that even consumers who have discontinued service keep the Association informed of any change in their mailing address to ensure that they will receive their refund checks in the future.
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