Did you get your check?

by Staff Reporter / Aug 11, 2017 / comments

Did you get your check?

Staff Report

Jemez Mountains Electric Cooperative, Inc. (JMEC) has issued capital credit checks for members that paid an electric bill in 1985, 1986 and 1987, but some have been returned as undeliverable.  

The JMEC Board of Trustees met March 31, earlier this year and agreed to pay $2,000,000 in Capital Credits to the coop membership. Checks were issued to all eligible coop members that paid an electric bill in 1985, 1986 and 1987, but some of the checks that were mailed out in May have been returned as undeliverable.  

If you or someone you know paid an electric bill to JMEC during those years and have not yet received a check in the mail, then you are owed a check.  Checks that have already been printed must be cashed by Aug. 20, 2017.  After that date a check can be reissued to you.  In accordance with Jemez Mountains Electric Cooperative, Inc.’s bylaws, funds will be turned over to the Jemez Electric Scholarship Foundation if they remain unclaimed after a two year waiting period.  To claim your check fill out the Unclaimed Property Request and return to JMEC.

Checks were issued to members on a First In First Out (FIFO) basis, meaning that the patronage that was paid first will receive checks first. 1984 was the last time JMEC paid capital credits to its members, so the next year would begin on allocations made in 1985. That is why those customers who paid their electric bills in 1985, 1986 and 1987 will receive a check. Future payouts will start with 1987.  Depending on the amount approved by the Board of Trustees to payout it may cover more than one year.   Check amounts are based on the total amount the customer paid in electric bills during that period.

You can learn more about the entire process at the JMEC information website HERE. Or you can print the Unclaimed Property Request form HERE, or drop by any one of the JMEC offices. The Espanola office is located at 19365 S.R. 84/285, Hernandez. The Cuba office is located at 71 Hwy 126, Cuba. The Jemez Springs office is located at 17421 Hwy 4, Jemez Springs.