Capital Credit List
CVEA is a cooperative and operates on a not-for-profit basis. As a member of this multi-million dollar organization, you are also part owner. Electricity is provided at cost. Each year that revenue exceeds the cost to provide electric service (net margin), it is assigned to the individual member/owners in the form of capital credits. Capital credits represent the ownership each member has in the Association. The amount of capital credits assigned is in proportion to the amount billed for electric usage during that year.
Member/owners are notified each year when capital credits are assigned. The capital is retained by the Association as working capital in order to maintain and improve our system until the Board of Directors declares a refund. Capital credits have been refunded to members through 1983. Should you leave our service area, please notify us of your new address so that we may locate you when a refund is declared.
Article VII of the Bylaws completely explains nonprofit operation under which the Association operates. Copies of the Bylaws are available at either CVEA office.
Unclaimed Capital Credits. Do We Owe You, or Someone You Know, Money?
In 2004 and 2006, CVEA made general retirements of capital credits. Some members did not receive a check because CVEA does not have a valid mailing address.
All members with unclaimed capital credit distributions have been compiled and are listed below, in alphabetical order, by district. If you or someone you know believe you should have received a capital credit check and didn't, we encourage you to check out the lists below. If you find your name, please call (907) 822-3211 or (907) 835-4684 to update your information.
Distributions which remain unclaimed as of April 16, 2009, will revert to CVEA.
For more information, contact Sharon Crisp at 835-7005, 822-5506 or crisp@cvea.org.