Capital Credits

What if I had service at more than one location at the same time?
  • Members with multiple accounts for different locations will receive a consolidated capital credit allocation statement whenever possible, grouped under a single membership number.
  • CVEC’s customer information system consolidates allocated capital credits for multiple accounts by member number for ease of tracking and payment.
How can I find out the balance of my patronage capital account?
  • Each member has a separate patronage capital account, which represents the member’s ownership in the Cooperative.
  • When capital credits are allocated at the end of a year, all members who received electric service during that year will receive an allocation notice showing that year’s allocation.
  • The total balance of your capital credits can be made available upon request from Coosa Valley Electric’s customer service or billing departments provided cooperative employees can establish a consumer’s identity as it relates to all capital credit allocations for each year of service a consumer claims.
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
How do I claim my capital credits?

If we determine you are or have been a member and you consumed electric service from CVEC, capital credits will be issued to you for the years that the cooperative has already issued capital credit payments.

  • To claim capital credits issued to you simply bring valid, state-issued photo identification to the Coosa Valley Electric Cooperative office
  • The cooperative will not issue capital credit payments early
  • Payments will only be issued to individuals whose name is associated with the member number on the patronage capital account
I just received a notice regarding my Capital Credits. When can I collect those?
  • Per Cooperative Bylaws, the Board of Trustees determines how many years and how much of the capital credits will be paid out or retired for each year.
  • If you just received a notice regarding your capital credits, that notice covers patronage capital earned during the last calendar year. Right now, the Cooperative is not able to retire those amounts.
  • The Bylaws require that patronage be retired on a first-in, first-out basis. (Those who first earned capital credits must be paid first)
  • The first year the Cooperative earned a margin was 1947, so we have started with that year and will work our way toward present day as resources allow.
How are capital credits allocated?
  • Capital credits are allocated based on how much electric energy (kilowatt-hours) a consumer uses
  • A person who uses more electricity will earn more capital credits
What are margins?
  • Margins are the amount of money left over after all expenses are paid from the revenue earned by the Cooperative during the year.
  • Years during which the cooperative earned higher margins, the amount of capital credits allocated to each member will be higher.
What are capital credits?
  • Capital credits are each consumer’s share of the margins
  • The total of capital credits assigned to each consumer represents the value of their ownership in the Cooperative