At a recent regular GVEA Board meeting, the decision was made to retire all capital credits from 1994 (and earlier), which totals $3.5 million. All refunds will be distributed by the end of November 2019.
How will the capital credit refunds be rolled out?
- Checks will be issued to members whose refunds are $100 and greater.
- All checks are expected to be issued by the end of November.
- Active members with refunds of less than $100 will have a credit posted to their November billing statement.
- The line description on the statement 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 exceed $25 or their balance of under $25 has been held for five years.
- 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.