Capital Credits Program
One of the advantages of being a member of a not-for-profit electric cooperative is you have a stake in the financial success of the cooperative through capital credits. Each year, Chugach Electric Association, Inc. allocates annual operating margins, revenues remaining after expenses are paid, to members receiving service during the year. These margins are allocated based on the amount of electric service a member purchases each year, compared to the total electric service purchased by all members.
The allocated amounts are called capital credits, and they are used by Chugach to keep the cooperative financially sound and able to provide safe, reliable electric service by investing in substations, poles, lines, and other critical infrastructure. In other words, they are used as operating funds until they are paid back to our members when the financial condition of the cooperative permits, as determined and approved by the Chugach Board of Directors.
By putting money back in the pockets of our members, and not paying profits to distant shareholders, we are keeping money in the local economy. Chugach is proud to support our communities and our members in this way.
In 2017, the Chugach Electric Board of Directors approved the retirement of more than $1.7 million in retail capital credits for Chugach Electric members. Since 1985, Chugach has paid out over $83million in capital credits to its members.
Chugach sends Capital Credit Allocation notices to members annually. In August 2017, Capital Credit Allocation notices were mailed to Chugach members who received electric service in 2016. Additionally, this amount was also printed on the August billing statement.
- Your Capital Credit Allocation Notice is not a bill. The amount represents your equity in Chugach and the amount is not payable now
Capital Credits may be retired (paid) at the discretion of the Chugach Electric Board of Directors when the cooperative has met certain financial requirements and other obligations. A retirement cycle is the period of time between the allocation and retirement of the Capital Credits. Chugach has a goal of retiring Capital Credits after approximately 25 years.
In 2017, Chugach Electric retired over $1.7 million in capital credits to members through a combination of mailed checks and bill credits issued on the member’s billing statement. Your annual Capital Credit retirement is a tangible benefit your ownership stake in the electric cooperative.
- In order to receive a Capital Credit retirement refund in 2017, you needed to be a member receiving electric service in 1991.
- Current members received a bill credit on their November/December billing statement. Members with more than one account, or receiving a check over $600.00, and former members were mailed a check.
- Members leaving the Chugach system should leave a forwarding address and keep Chugach updated on future moves until all of their allocated capital credits have been retired.
Do we owe you money?
This is a notice of unclaimed capital credits for 1990 members of Chugach Electric Association.
In 2016, the board authorized the retirement of retail capital credits earned by members of the cooperative in 1990. Chugach subsequently applied bill credits and mailed checks or notices to the addresses on file for the members of record entitled to a share of this retirement.
Some checks have not yet been cashed. A list of members who are still entitled to a share of the 2016 retirement can be found here.
If you have recently contacted us regarding your capital credits, there is no need to contact us again.
Capital credits from the 2016 retirement which remain unclaimed in January 2018 will revert to Chugach
Research Request Do we owe you a check? Submit a Research Request.