As a member-owner of your electric co-op you earn Capital Credits with your electric usage every year. When the financial health of the co-op is strong, and all expenses have been paid (such as capital projects, debt, etc.), the Board of Directors can elect to retire excess revenues to our members through Capital Credits.

2023: Board Retires $3.2 Million in Capital Credits to 1988 Co-op Membership
‍At the regular October meeting, MEA's Board of Directors approved more than $3.2 million in general capital credit retirements to payout the remaining capital credits owed to the 1988 co-op membership. The board elected to use the "first in, first out" method for capital credit retirements this year, meaning capital credits will be paid to MEA's longest standing membership. A member's capital credit payout may be first applied to any delinquent or uncollectible accounts owed to MEA, and any capital credits in the amount of less than $25 will be applied to active account balances. Co-op members receiving a capital credit retirement check can expect it to arrive in the mail at the end of November.

2022: MEA Board Retires More than $1.8M in Capital Credits

MEA's Board of Directors retired $1,869,290 in capital credits to members in 2022. A total of $548,585 of the capital credit retirement applies to early estate retirements and more than $1.32 million was paid out to members who earned capital credits in 1988. The board elected to use the "First in, First Out" method for capital credit retirements this year, meaning capital credits are paid to MEA's longest standing membership which is now at year 1988. A member's capital credit payout may be first applied to any delinquent or uncollectible accounts owed to MEA, and any capital credits in the amount of less than $25 will be applied to active account balances. Checks are mailed for retirement amounts more than $25 or for inactive accounts. Please make sure we have your most current mailing address and up to date contact information.

2021: Board Retires More than $2.3M in Capital Credits

In 2021, the Board of Directors distributed over $2.3 million in capital credits to members in general capital credit retirements. The capital credit retirement of $2.3 million was a split payout: 50% of the retirement was distributed to the 1987 and 1988 membership (typically capital credits are paid out to MEA's longest standing membership), and the other 50% was distributed to all members who earned capital credits after 1988.

Claiming Capital Credits for a Deceased Member
In the event of a member’s passing, capital credits are refundable at their death and payable to the estate (not to exceed in the amount of $2,500). The following steps must be completed in order for Capital Credits to be distributed to an estate:

1.   The deceased member’s MEA account must be inactive and a sole account.

2.   Certified copy of Death Certificate.

3.   Complete the Early Retirement of Capital Credits Request Form with notarization (free notary services are provided at any MEA office).

4.   Complete the W-9 IRS Form.

5.   Complete the Capital Credits Assignment Form with notarization (please request this form by contacting Member Services at 907-761-9300; free notary services are provided at any MEA office).

In addition to these forms, MEA also requires one of these documents: a Will of Testament, Letters Testamentary and Acceptance, or Letters of Administration stating the executor. If there is not an Estate established please use the State of Alaska Affidavit for Collection of Personal Property of Decedent form with notarization. Once you have all the required documentation completed, forms can be mailed, faxed or brought to any MEA office locations. For questions regarding Capital Credits for deceased members, please contact Member Services at 907-761-9300.