Cordova Electric Cooperative

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Capital Credits

General Information

Capital credits or patronage capital is a customer’s assigned portion of excess revenues. Instead of making a profit, CEC returns excess revenues back to its customers. On an annual basis, customers are notified via postcard of their share of excess revenue. These amounts are kept by the cooperative to maintain and invest in equipment providing better service to Cordova.

The Board of Directors reviews finances and loan agreements to decide if the revenues can be paid back without having a negative effect on the cooperative. In 2018 and for the first time in CEC history, the Board voted to return funds back to customers.

Help us find people! CEC is looking for the people listed on this page. Contact CEC today!

Bylaws and Policies governing CEC Capital Credits

If a member passes away their capital credits can sometimes be paid out early at a discounted rate to their estate. If a member left any debt with the cooperative their capital credit payment will be applied to the debt before being issued. CEC will also retain payments less than $20 until their pay out exceeds this amount.

Capital credit checks will be sent to the last known address of the member. Members are responsible for providing CEC with a current address. Checks that are uncashed or checks for members with unknown or invalid addresses will ultimately be reverted to CEC. You can help CEC find members by viewing the list on this page and directing members to contact us.

Claiming Capital Credits

Reference the guide below if claiming capital credits due to name change, divorce, on behalf of a deceased member, or business. Please note that insufficient or incomplete information may not be conclusive to establishing ownership. Contact CEC if you have any questions or need help filling out forms.

Name Change or Divorce

If claiming due to divorce or cohabitation, provide the following:

  • Provide a copy of the court order assigning ownership of the capital credits to the individual (certified copy if claim is $5,000 and more), and
  • Proof of social security number

or,

  • Executed copy of CEC form, “Certification of Ownership of Capital Credits After Divorce or Name Change” completed by the other party to the marriage consenting to the transfer of the capital credits to the individual

If claiming due to a name change, provide the following:

  • Provide a copy of the court order reflecting the name change, and
  • Executed copy of CEC form, “Certification of Ownership of Capital Credits After Divorce or Name Change”

Deceased Member

If claiming as an executor of a member’s estate, provide the following:

  • Death certificate (certified copy if claim is $5,000 and more), and
  • Court documents appointing the individual as Administrator of the Estate

If claiming as an heir to a member, provide the following:

  • Death certificate (certified copy if claim is $5,000 and more), and
  • One of the following:
    • If the deceased owner left a probated will, provide a certified copy of the court order directing distribution of the estate;
    • If the deceased owner did not leave a will or the will was not probated, a notarized Affidavit for Collection of Personal Property.
  • If the Estate has been closed, provide a certified copy of the court documents verifying final closing and distribution for the estate.

Business Certification

If business or entity no longer exists but was purchased or sold provide the following:

  • Executed copy of the Buy/Sell Agreement

If business experienced a name change, merger, or has an assumed name (d.b.a.) provide the following:

  • Certified Copy of corporate documents and state filing reflecting the name change or merger

If business is no longer in existence provide the following:

  • Certified copy of the Articles of Dissolution filed with the State of Alaska, or
  • Corporate Liquidation form filed with the Internal Revenue Service

Also provide one or more of the following:

  • Corporate resolution or minutes from a meeting
  • Partnership agreement
  • Notarized affidavit signed by a financial officer
  • Copy of biennial report
  • IRS issued EIN Letter
  • State Articles of Incorporation
  • City of Cordova or State Business License

CEC will evaluate the information provided to ascertain whether it will be sufficient to allow payment of the entity’s capital credit.

Help us find people! CEC is looking for the people listed on this page. Contact CEC today!

Forms

  • ALASKA POWER SERVICES
  • ALASKAN HOTEL & BAR
  • G. GALE ALLEN
  • ALPHA CINEMA THEATER
  • DORIS ANDERSON
  • LOUIS ANDERSON
  • RON ANDERSON
  • BRIAN ARNOLD
  • ROSE ARVIDSON
  • JIM AYERS
  • B.P.O.E – CDV ELKS LODGE
  • DAWN BAGRON
  • WILLIAM BAGRON
  • ROBERT N BANTA
  • EDWARD BARNES
  • JOHN T BARNES
  • KENNETH BARNES
  • PATRICK BARNES SR
  • BAYSIDE COLD STORAGE
  • CARL BENNETT
  • JUDY L BERNARD EATON
  • BLACK SHEEP
  • SAADI BLACK SHEEP
  • GEORGETTE BLANCHARD
  • JOHN BORODKIN
  • SOPHIE BORODKIN
  • LAVON BRANSHAW
  • JOHN BRIZGALOFF
  • BRADLEY BROWN
  • ROGER BROWN
  • KATHLEEN BUTLER BOWEN
  • JOHN E BUTLER
  • LUANNA M BUTLER
  • CLAY BYNUM
  • C.T. DAVIS & SONS
  • PAULA CARROLL
  • GEORGE CHAMBERS
  • E L CHESHIER ESTATE OF
  • DON CHESNEY
  • CHEVRON USA
  • CHITINA AIR SERVICE
  • GLORIA CLARKE ESTATE OF
  • SEAN CLARKE
  • CLUB CAFE
  • CLUB CAFE
  • CLUB TAXI
  • FRANK CODER
  • PAUL COLE
  • COMMODORE APARTMENTS
  • PEGGY COOK
  • MRS STEVE E B COOPER
  • CORDOVA AIRCRAFT SERVICE
  • CORDOVA COMMERCIAL LUMBER
  • CORDOVA DRUG CO
  • CORDOVA FREIGHT & TOWING
  • CORDOVA HOTEL
  • CORDOVA TIMES
  • DAVID CORNWALL
  • JOY ANN COX
  • JAMES CUNNINGHAM
  • PERRY DAVIS
  • JODY DETHMAN
  • ROBERT DETTINGER
  • JEFF EDDY
  • MICHAEL ELESHANSKY
  • JACKIE ELISOVSKY
  • RAVEN LYNN EMBREY
  • DON ENDICOTT
  • LORELEI M ERDMANN
  • TERRY M EVERETT
  • FAITH LUTHERAN MISSION
  • W.T. FLEMING
  • FLINN’S SPORTING GOODS
  • BURTON P FOSSE
  • LINDA FOUTS
  • WILLIAM E FRAZIER
  • WAYNE GILMORE ESTATE OF
  • DAR GLASEN ESTATE OF
  • DON GLASEN
  • MONTE GONITZKE
  • HOWARD GRAHAM
  • ART GUNDERSON ESTATE OF
  • IAN BD GUNSUL
  • ARLOT W HALL
  • C. W. HALL
  • FRED HANKS
  • PHILLIP HAYDEN
  • KENNETH E HOLBROOK
  • MARK HOOCK
  • RON HORN
  • DALE HUNT
  • M PETE ISLEIB ESTATE OF
  • ELIAZBETH JACKSON
  • CLANCY JAMES
  • JANSON APARTMENTS
  • DIANE YOUNT JANSON
  • JANSON’S STORE
  • DEBRA L JOHNSON
  • GERALD JOHNSON
  • MELVIN JOHNSON
  • PHYLLIS JOHNSON
  • RANDY JONES
  • K & E FOODLAND
  • MELODY KASSAHN ESTATE OF
  • JEREMY KELLEY
  • BLAINE B KENDALL
  • ALAN KIMKER
  • LEE KING
  • TOM KOHLER
  • RAMONA C KOLENUT ESTATE OF
  • MICHAEL KOMPKOFF
  • WALLACE KREIDER
  • MARK KRUZICK
  • DANE LEARY
  • DAVID (DUFFY) LEDERMAN
  • ROBERT W LIPF ESTATE OF
  • PETE LOVESETH
  • PERRY LOVETT
  • MALCOLM MACMASTER
  • HENRY MAKARKA
  • LINDA MANLEY
  • WALTER MANTILA ESTATE OF
  • REINO MATSON
  • B MCALLISTER
  • CONRAD MCCRACKEN ESTATE OF
  • LINDA MCCULLOUGH
  • MYRA MCDONALD ESTATE OF
  • DAN MCELHANEY
  • LEANDER MERRITT
  • LOIS MOE
  • RALPH MOREHOUSE
  • TED MOREHOUSE
  • CYNDI BEHRENS MORIN
  • MORPAC CANNERY
  • STEVE MORSE
  • ELEANOR B MUMA ESTATE OF
  • MARNEE MURRAY
  • MUTUAL BLDG, CO.
  • MATRONA NACKTAN
  • PEARLE NICOLET
  • WILLIAM NICOLO ESTATE OF
  • NORQUEST SEAFOODS, INC.
  • NORTHERN LIGHTS BROADCAST
  • ARTHUR NYBERG
  • OCEANAIRE APARTMENTS
  • MRS. PETE OLSEN
  • VI PEMBERTON
  • GEORGE PETERSON
  • LEONARD PINGATORE
  • PINK POODLE BEAUTY SALON
  • PIONEER CAFE
  • FRANK PLANT
  • FERN POIRIER
  • MICHAEL POOR
  • RANDY POOR
  • POWDER HOUSE
  • WALT RABER
  • JULIUS REYNOLDS
  • HARRY RICHARDS
  • PAUL ROBERTS
  • CHARLES V ROEMHILDT
  • GERALD ROEMHILDT
  • WAYNE ANTHONY ROSS
  • ED RYBERG
  • SAMUELSON ENTERPRISES
  • MARTIN SAMUELSON ESTATE OF
  • PAUL SANA
  • BENNY SANCULI ESTATE OF
  • RYAN SCHUETZE
  • SEA ALASKA PROD INC
  • SERVICE TRANSFER INC
  • KIM SEYMOUR
  • MARIEA SHAFER BLAKE
  • DON SHAW
  • JACK B SHAW
  • SHELLHORN’S INC.
  • FRANK SHERBY
  • JEAN SHERMAN ESTATE OF
  • JOSEPH SISKA
  • SKIAK COMPANY
  • J.D. SKIPPER
  • PAMELA SKULSTAD
  • MIKE SLABICK
  • ROGER SMITH
  • STUART STARBUCK
  • STEEN’S RENTALS
  • WILLIAM STIDD
  • ROBB STOKES
  • DAVE SUDOL
  • CHARLES TAYLOR
  • STEVE TAYLOR
  • JESSIE L TIEDEMAN
  • VIOLA TIEDEMAN
  • ARTHUR TILGNER
  • PHILIP TOTEMOFF
  • TREASURE CHEST
  • TREND CONSTRUCTION
  • VARIETY SHOP
  • VIRGIN BAY KELP CO.
  • WILLIAM WAMSER
  • ERIC WEATHERS
  • GENE E WEED
  • RAY WEISS
  • PEGGY WENDALL
  • BOB WENTWORTH
  • ELMER WENTWORTH
  • HENRY WIESE ESTATE OF
  • AMANDA C WIESE
  • WALTER WILLIAMS
  • DICK WILLIS
  • ARTHUR WOODS
  • VINA YOUNG ESTATE OF
  • YOUNG STUFF

Update your information and you could win some sweet prizes!

Update your information and we will enter you into a drawing. Over 25 prizes including $50 gift cards to local restaurants and stores! Drawing will be held on August 31st. Don’t forget to stop by the office for your customer appreciation gift bag. We ❤ Cordova!