Capital Credits Checks Mailed in December
One of the many benefits of being a member-owner of Umatilla Electric Cooperative is sharing in any margins generated by the business. In November 2017, the UEC Board of Directors approved a total of $4.34 million to be returned to members in December 2017, representing the remaining 2000, 2001 and 2002 margins.
In mid-December, UEC mailed a total of 7,126 checks to members who purchased power during those years. Members received a refund in proportion to how much power they consumed.
Whether this refund is taxable generally depends on whether or not you claimed your electric bills as a business expense. Most refunds for residential bills are not taxable; however it would be wise to check with a tax accountant if you are in doubt.
If you no longer receive electric service from UEC, please keep us informed of changes in your mailing address so that any future refunds will reach you.
If you have questions regarding your refund, please call UEC at 567-6414 in Hermiston, 481-2220 in Boardman, or 1-800-452-2273 toll-free.