At the October 22, 2018, GVEA Board meeting, the decision was made to retire all capital credits from 1993 (and earlier) plus 25 percent of the 2017 capital credits, which totaled $9.3 million. All refunds will be distributed by the end of November 2018.
How will the capital credit refunds be rolled out?
- Checks will be issued to members whose refunds are greater than $100.
- Checks will be issued by the end of November.
- Members with refunds of less than $100 will have a credit posted to their November bill.
- The line description on the bill will indicate which year the refund ties to, along with an associated account / service location tracking number.
- Former members will be issued checks if balances exceeded $25.
- It’s very important GVEA has a current mailing address in file, so the capital credit refunds can reach you.
If you have capital credits questions, you can call 907-451-5625 (or 1-800-771-4832) or email email@example.com. Additionally, there’s more info available on GVEA’s website, located here.