As a cooperative, San Miguel Power Association (SMPA) is owned by its members, and member dividends, also known as "capital credits", reflect each member’s ownership in the cooperative.
In a typical year, SMPA tries to collect slightly more than enough revenue to cover its expenses. The excess revenue, called “margins” is allocated to each consumer in proportion to their contributions for that year. For a period of time, this capital can be used by the cooperative to finance operations and construction. This helps keep rates at an affordable level by reducing the amount of funds that must be borrowed to maintain and enhance SMPA’s existing electric system. When the Board determines the time is right, allocations for a given year or combination of years are cashed out as “Member Dividends” and returned to the members.
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2026 Unclaimed Member Dividends
SAN MIGUEL POWER ASSOCIATION, INC.
NOTICE OF MEMBER DIVIDENDS RETIREMENT
NOTICE OF RIGHT TO CLAIM MEMBER DIVIDENDS (CAPITAL CREDITS)
San Miguel Power Association, Inc. is seeking current and former members who have not yet claimed their member dividends, also known as capital credits. In April, the co-op sent out approximately $600,000 in Member Dividend checks to members who received electric service during the year, 1995.
Many of those checks have not been cashed. Members are encouraged to check the list below. Members whose names appear on the list may request another check to be issued. Credits that remain unclaimed or un-cashed as of Wednesday, September 30th will be forfeited by the member.
Please note:
This alphabetized list was generated from user-entered data. Most names are listed by first name, first. Some are listed with the last name, first. Business and Organization names are intermixed. If you are searching for a certain membership, please look up both the first name or word of the organization, as well as the last name or word of the organization name.
Shortcut: To search for a name on this list, you can hit Ctrl + f (PC) or Cmd + f (Mac). You can do a name search on mobile devices as well.
Member Dividends Frequently Asked Questions
Member dividend checks expire ninety days after they are issued. However, members may still request that a check be re-issued within six months of the retirement.
Member dividends can be paid back to the legal representative(s) of your family member’s estate. In order to claim them, a completed membership application is required as well as a notarized affidavit and a copy of the death certificate and personal representative appointment documentation, if one was appointed. Please click here to download affidavit.
Member Dividends that are claimed early due to the death of a family member are returned at a discounted rate.
A completed membership application is required.
Check to see if your bank will cash the check first. If the member dividend check is less than $100 an Affidavit Regarding Dissolution of Entity may be used to have SMPA reissue the check in a different name. Please click here to download affidavit. For checks greater than $100, please contact us.