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icon_money_whatWhat are capital credits?

Each year that AVEC earns a margin (revenue collected that is not needed to cover the cost of providing service), it is assigned to members in proportion to the amount they were billed for electricity during that year. These funds, called capital credits, are retained by the co-op as a source of working capital for approximately 17 years and are refunded at the discretion of the Board.

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icon_money_whenWhen are capital credits refunded?

The AVEC Board of Directors annually reviews the financial status of the cooperative to determine whether a refund is feasible and if so, how much. They strive to operate in a prudent business manner so that the member-owners will continue to have the very best electrical service possible at the lowest cost consistent with sound economy and good management.

Non-Locatable Member Checks – Have you cashed all your past Capital Credit Checks?

Alaska Village Electric has compiled a list of Capital Credit retirement distributions that have been paid but never cashed by our members. According to AVEC policy, any capital credits that are declared retired and payable to a person or entity that cannot be located within one (1) year shall be paid or transferred as a donation to the capital of the Cooperative and placed as principal in the existing scholarship program, after proper public notice has been given to this effect.

This is part of AVEC’s public notice of non-located retirements.

The list is currently being updated, and will be available by the end of January 2016.

If you have any questions, please contact Member Services to complete the needed paperwork. Or Send an Email about Un-locatable Capital Credits.

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