Union Power Cooperative
Union Power Cooperative is a member-owned, not-for-profit electric distribution cooperative serving 90,729 residential, commercial, agricultural, and industrial accounts across five North Carolina counties from its Monroe headquarters, operating under a cooperative franchise with a 99.9% reliability rating and a diversified nuclear-led generation portfolio.
- Company typePrivate
- Founded1938
- HeadquartersMonroe, United States
- Headcount101–250
- GTM typeB2B and B2C
- OfferingServices
What Union Power Cooperative does
Union Power Cooperative is a member-owned, not-for-profit electric distribution cooperative founded circa 1938 in Monroe, North Carolina. It distributes electricity to 90,729 member accounts across five North Carolina counties (Union, Stanly, Cabarrus, Mecklenburg, and Rowan) under an exclusive-territory franchise granted by state and federal cooperative frameworks. The cooperative serves residential, commercial, agricultural, and large industrial members with a 99.9% system reliability rating, supported by owned poles-and-lines infrastructure, advanced metering, outage management systems, and year-round vegetation management.
The cooperative's core product is electric power distribution, supplied through a diversified generation portfolio: 55% nuclear, 22% natural gas, 7% renewables, 2% hydro, 6% coal, and 8% purchased power. Union Power co-owns generation and transmission assets via the North Carolina Electric Membership Corporation (NCEMC) alongside 25 other NC co-ops, including a 13.33% stake in the 750MW W.S. Lee Station combined-cycle natural gas plant. The cooperative has committed to net-zero carbon emissions by 2050 and is expanding distributed energy services, including solar/battery interconnection, EV support, and free home energy audits using real-time meter data.
The business model is a patronage-based cooperative rather than a for-profit enterprise. Revenue is generated through monthly electricity sales to members under published rate schedules, with four primary customer classes (residential, commercial, agricultural, large industrial). Margins (revenues exceeding expenses) are not distributed to outside shareholders; instead, they are allocated to members as Capital Credits proportional to each member's energy purchases and retired (paid out) at the board's discretion, with $4.7M retired in 2025. The cooperative is governed by a nine-member elected board representing six districts. Distribution is direct via owned infrastructure, with bill payment accessible through an online member portal, mail, and over 50,000 PayGo retail locations nationally. Community programs — the Union Power Charitable Foundation, Operation Round Up, Bright Ideas education grants, college scholarships, and the Youth Tour — are funded through member contributions and co-op margin allocation rather than as revenue streams.
Union Power Cooperative firmographics
Firmographics- Name
- Union Power Cooperative
- Legal name
- Union Power Cooperative
- Website
- https://union-power.com
- Company type
- Private
- Founded year
- 1938
- Operating status
- Operating
- Headcount range
- 101–250 employees
- Short description
- Union Power Cooperative is a member-owned, not-for-profit electric distribution cooperative serving 90,729 residential, commercial, agricultural, and industrial accounts across five North Carolina counties from its Monroe headquarters, operating under a cooperative franchise with a 99.9% reliability rating and a diversified nuclear-led generation portfolio.
- Ownership category
- akta.pro rank
Union Power Cooperative industry classification
Industry- Product category
- Electric Utility Distribution
- NAICS
- Electric Power Distribution (221122), Electric Power Transmission, Control, and Distribution (22112), Electric Power Generation, Transmission and Distribution (2211), Utilities (22)
- SIC
- Electric Services (4911), Electric, Gas & Sanitary Services (4900)
- akta.pro primary industry
- Electric Cooperatives (Rural/Member-Owned Utilities) (EUADABAC)
Keywords
Where Union Power Cooperative is headquartered
LocationHeadquarters
- HQ city
- Monroe
- HQ country
- United States
- HQ region
- North America
Offices2 records
Markets served
Union Power Cooperative business model
Business model- GTM type
- B2B and B2C
- Offering type
- Services
- Cost components
- Supply Chain, Infrastructure, Operations, Personnel, Technology or R&D, Others
Revenue model
- Electricity Sales: Union Power generates revenue through the sale of electricity to residential, commercial, agricultural, and industrial members. Revenue is collected monthly from member bill payments. Margins (revenues exceeding expenses) are allocated back to members as Capital Credits rather than distributed to shareholders.
- Capital Credits Retirements: After financial requirements are met, Capital Credits are retired (paid) to members. The board of directors approves retirement amounts based on financial condition. In 2025, approximately $4,700,000 was distributed to eligible members.
- Operation Round Up: Members voluntarily round up their monthly electric bill to the next whole dollar, contributing an average of $6 per year. All funds are allocated to the Union Power Charitable Foundation to support local community organizations and families in need.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Subscription | Monthly | Standard Residential Electric Service |
| Subscription | Monthly | Large Industrial Service |
| Subscription | Monthly | Operation Round Up Optional Contribution |
Go-to-market motion1 record
Distribution channels4 records
Marketing channels7 records
Union Power Cooperative product offering
Product offeringCore offering
Union Power Cooperative is a member-owned, not-for-profit electric utility cooperative that distributes and transmits electricity to approximately 90,729 member accounts across residential, commercial, agricultural, and large industrial customers in five North Carolina counties. The cooperative operates as a Touchstone Energy Cooperative, returning margins to members through capital credits and providing energy efficiency programs, surge protection, and billing services.
Product overview
Union Power Cooperative is an electric utility cooperative providing reliable electric power distribution to residential and commercial members across five North Carolina counties. The cooperative operates as a member-owned organization with core offerings including electric power distribution, Capital Credits (a cooperative-specific profit-sharing mechanism), and an Online Member Portal for account management. Additional services include renewable energy interconnection (Solar/Battery), Home Energy Audits, Electric Vehicles support, Operation Round Up charitable giving, Power Bucks assistance, vegetation management, and annual membership meetings. The cooperative maintains a diverse power supply portfolio including nuclear (55%), natural gas (22%), and renewable sources (7%), with a 99.9% system reliability rating across its service territory.
Differentiator
Problem solved
Functional benefit
Products and services
- Residential Electric Service Electricity distribution and supply service for residential households and homeowner members across Union, Stanly, Cabarrus, Mecklenburg, and Rowan counties in North Carolina.
- Commercial Electric Service Electricity distribution and supply service for commercial business members and small-to-mid-sized enterprises operating within the cooperative's service territory.
- Industrial Electric Service High-capacity electricity distribution and supply service for large industrial member customers in the cooperative's five-county service area.
- Agricultural Electric Service Electricity distribution and supply service for farm, ranch, and agribusiness member-owners operating within the cooperative's service territory.
- Capital Credits Program Member-owned cooperative program that allocates and retires allocated margins (capital credits) back to members based on their patronage of the cooperative.
- Energy Efficiency Programs Programs that help residential and commercial members reduce electricity consumption and lower bills through rebates, audits, and conservation measures.
Quantifiable outcome
- 99.9% system reliability rating
- +5 more outcomes
Companies that use Union Power Cooperative
Customer profileNamed customers8 records
Segments4 records
Ideal customer profiles3 records
Union Power Cooperative technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Integration2 records
Feature3 records
Union Power Cooperative partnerships and signals
Strategic signalPartnerships
Six partnerships are on record, tiered minor and core.
- Four Branches Shooting PreserveminorShooting preserve in Polkton, North Carolina that hosted the inaugural Clays for a Cause fundraiser for the Union Power Charitable Foundation. Event raised over $68,000 for UPCF.
- North Carolina Electric Membership Corporation (NCEMC)coreNCEMC is the generation and transmission (G&T) cooperative owned by Union Power and 25 other electric cooperatives in North Carolina. Union Power receives power allocations through NCEMC and participates in margin allocations from NCEMC's operations. Union Power also receives G&T Capital Credit Allocations (1.790% for 2024) which are passed through to members.
- North Carolina's 26 Electric CooperativescoreUnion Power participates in the network of 26 electric cooperatives in North Carolina, sharing a vision for reliable, affordable, and sustainable electric service. Cooperatives assist each other during major outages by restoring power across regions.
- Tim Graves and The Farm HandsminorAward-winning bluegrass band featured at Union Power's 86th Annual Membership Meeting. Band has received 82 award nominations with 34 major awards including Bluegrass Gospel Band of the Year at 2019 and 2020 Bluegrass Music Awards.
- Creative Food ConceptsminorCatering company owned and operated out of Union County, NC. Former Union County Chamber Small Business of the Year winner and multiple-time Union County Weekly's Best Caterer of the Year. Provides complimentary breakfast at Annual Meeting.
- W.S. Lee StationcoreJoint ownership of 13.33% share of the 750-megawatt combined-cycle natural gas plant at W.S. Lee Station in Anderson County, S.C. that began service in April 2018.
Scale indicators13 records
Recent moves6 records
Expansion highlights5 records
Union Power Cooperative competitors and assessment
Company assessmentDirect peers
- EnergyUnited: Member-owned electric cooperative serving residential, commercial and industrial members across multiple North Carolina counties. Closely comparable to Union Power in cooperative structure, capital credits mechanism, NCEMC G&T partnership and mission to deliver reliable, affordable power in rural/suburban territories.
- Rutherford EMC: North Carolina electric membership cooperative serving a multi-county rural/suburban area. Same core business of distribution to residential, commercial and large industrial members under the cooperative model.
- Piedmont Electric Cooperative: North Carolina-based electric distribution cooperative serving members in a multi-county territory. Comparable cooperative structure, capital credits framework, NCEMC affiliation and member services portfolio.
- Seminole Electric Cooperative: Generation and transmission cooperative serving distribution co-ops across the Southeast. Comparable to Union Power's role as a NCEMC member and its 13.33% stake in W.S. Lee Station—a similar G&T wholesale supplier model.
- Blue Ridge Energy: North Carolina electric cooperative providing distribution and member services across foothill counties. Similar member-owned model, NCEMC affiliation, capital credit retirements, and community-focused programs make it a strong structural peer.
- Pee Dee Electric Cooperative: Member-owned electric distribution cooperative serving rural North Carolina. Comparable in scale (~60K–80K meter range), cooperative governance, NCEMC power supply arrangement and rural service territory profile.
Others
- Cooperative Finance Corporation (CFC): Lender and capital provider to America's electric cooperative network. Comparable as an enabler of cooperative utility capital structure and access to long-term debt; Union Power relies on similar member-cooperative finance channels.
- NRECA (National Rural Electric Cooperative Association): National trade association representing 900+ U.S. electric cooperatives. Comparable as the unifying industry body that defines cooperative governance, training, advocacy and capital credit norms that Union Power operates within.
Broad incumbents
- Dominion Energy: Large Southeast US regulated utility operating electric distribution and generation. While structured as an IOU, it is relevant as a broad incumbent with overlapping regulatory, generation transition and grid-modernization themes.
- Duke Energy: Largest investor-owned utility in North Carolina serving residential, commercial and industrial customers across overlapping NC territories. Not a cooperative but the dominant incumbent competitor in adjacent service areas with similar generation/distribution scope.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks6 records
Key highlights6 records
Customer concentration
Union Power Cooperative social profiles
Digital presenceUnion Power Cooperative compliance and trust
Trust signalCompliance4 records
Union Power Cooperative financial estimates
Financial estimateRevenue estimate
Valuation estimate
Union Power Cooperative leadership team
Management profileNumber of profiles
Union Power Cooperative funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Union Power Cooperative M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Union Power Cooperative
What does Union Power Cooperative do?
Union Power Cooperative is a member-owned, not-for-profit electric utility cooperative that distributes and transmits electricity to approximately 90,729 member accounts across residential, commercial, agricultural, and large industrial customers in five North Carolina counties. The cooperative operates as a Touchstone Energy Cooperative, returning margins to members through capital credits and providing energy efficiency programs, surge protection, and billing services.
Is Union Power Cooperative a public or private company?
Union Power Cooperative is a private company. It is classified as unknown and is currently operating.
When was Union Power Cooperative founded?
Union Power Cooperative was founded in 1938. It employs 101 to 250 people.
Where is Union Power Cooperative based?
Union Power Cooperative is headquartered in Monroe, United States, in the North America region.
How does Union Power Cooperative make money?
Three revenue lines are on record. Electricity Sales are the primary driver. The others are capital Credits Retirements and operation Round Up.
Who are Union Power Cooperative's main competitors?
Direct peers on record are EnergyUnited, Rutherford EMC, Piedmont Electric Cooperative, Seminole Electric Cooperative, Blue Ridge Energy and Pee Dee Electric Cooperative. Others are Cooperative Finance Corporation (CFC) and NRECA (National Rural Electric Cooperative Association). Broad incumbents are Dominion Energy and Duke Energy.
Does Union Power Cooperative have an API?
No public API is recorded for Union Power Cooperative.
What industry is Union Power Cooperative in?
Union Power Cooperative's product category is Electric Utility Distribution. Its primary akta.pro industry code is EUADABAC, Electric Cooperatives (Rural/Member-Owned Utilities). Its NAICS code is 221122 and its SIC code is 4911.