Capital Credit Notice
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.
CVEA is asking for your help
In December 2004 and 2006 CVEA made general retirements of capital credits. The members on the attached lists did not receive a check because CVEA does not have their valid mailing address. We are asking for your help in obtaining a valid mailing address for these members. If CVEA cannot locate these members within six months of the date of this publication the amount of the December 2004 refund and December 2006 refund will revert to the Cooperative for deposit into the Cooperative’s general scholarship program. If you can help locate these members please call 822-3211 or 835-4684.
2004 Copper Basin List 2004 Valdez List A - K 2004 Valdez List L - Z
2006 Copper Basin List A-L 2006 Copper Basin List M-Z
2006 Valdez List A-H 2006 Valdez List I-P 2006 Valdez List Q-Z
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