What happens in case of a deceased member?

If the membership is a joint membership, the surviving member must provide a copy of the death certificate of the deceased individual. Upon notification of the death of a member of a joint membership, the:

  • Cooperative will remove the name of the deceased person from the account records.
  • Membership, and any allocated patronage capital, is then held solely by the surviving spouse.

Capital credits of deceased members where there is no surviving member of a joint membership may be claimed by individuals who can show proof that they are the heir at law or legatee of a deceased member. To obtain the capital credits belonging to a member who has died, please provide the following documents:

  1. Death certificate – Certified copy or good-quality photocopy of certified copy
  2. Form of valid, state-issued photo identification
  3. Completed and notarized Affidavit for Right to Claim

Upon receipt of acceptable documentation, CVEC:

  • Shall issue payment for those years that the cooperative has already issued capital credit payments
  • Payments will be issued only in the deceased member’s name
  • Capital credits for a deceased members’ estate will be paid only for the years which the cooperative has already issued payments.
  • Will not retire any capital credits early