Capital Credits

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.

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

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.

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

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.

Q: What are Capital Credits?
Capital credits represent your equity in MEA which is a not-for-profit, member-owned electric cooperative. Capital Credits are not cash, nor represent credit to your account or bill. Each year, your capital credits earned are based on the amount of electricity you use. Members will receive an annual capital credit allocation notice summarizing how many capital credits they earned the previous year and their prior capital credit balance to reflect the total capital credits a member has earned with MEA.
Q: When will my capital credits be paid out to me?
Capital credits are paid out to members when the financial health of the co-op is strong and the Board of Directors elects to retire capital credits to members. Capital credits that are not retired are reinvested back into the cooperative to pay for technical improvements and account for system growth. There are currently no requirements for the cooperative to retire capital credits at a specific time. It has been the Board of Directors’ practice to payout capital credits going back to MEA’s older members; in 2020 retired capital credits were paid out to MEA’s 1987 membership. However in 2021, the Board elected to provide a split payout of the $2.3 million capital credit retirement; 50% was distributed to the 1987 and 1988 membership, while the other 50% was distributed to all members who earned capital credits after 1988.
Q: Do I lose my capital credits when I am no longer a member of MEA?
You do not lose your capital credits when you are no longer a member of MEA. It is important to keep your address and contact information current with MEA so that payments may be forwarded to you if capital credits are retired for the year of your membership.
Q: Is there a list of unclaimed Capital Credits from members?
After MEA pays out capital credits to members any uncashed checks from the payout are moved to an ‘unclaimed capital credit’ account. At any time, no matter how long ago the initial check was issued, a member with an unclaimed capital credit may follow up with MEA to request the check be re-issued. Below please find a list of unclaimed capital credits from members. If you are on this list or believe you have an unclaimed capital credit check from a previous year, please contact our Member Services at 907-761-9300.

Recent Capital Credit Retirements (not including estate payments)



retired to 1987 MEA Membership



retired to 1987 MEA Membership



retired to 1987 MEA Membership



retired to MEA Membership



retired to MEA Membership