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Capital Credits

Excess revenues are credited back to your member account annually:

As a WFEC member-owner, excess revenues are credited back to your member account annually. Since WFEC is not-for-profit, any funds left over after bills have been paid, infrastructure built, and an emergency fund established, go into a capital credits account for each co-op member.

As the Board of Trustees determines the co-op is in good financial shape, that capital is returned to you. Capital credits are retired after approximately 25 years. Capital credit refunds are to you (our members) what dividends are to stockholders at for-profit companies.


Deceased Capital Credits

Additional Information

In the event of a member’s death, capital credits are refundable and payable to heirs (surviving spouse and children).

The following steps must be completed to claim capital credits:

  • Deceased member’s account closed
  • Final bill paid
  • Deceased Capital Credit Form and Signature Form completed and signed by a co-op representative

Note: This form may not be altered in any way. Altered documents will not be accepted. Heirs should indicate to whom the check is payable. When a letter of administration is used, checks are made payable to the administrator, care of the estate.

Notarized signatures of heirs are required on the Signature Form. Heirs are defined as:

  • Surviving spouse and children
  • Spouse only or
  • Children only (guardians of minor children)
  • If any children are deceased, their children
  • If no surviving spouse and no children, (living or deceased), parents
  • If no parents, siblings
  • If any deceased siblings, their children
  • A certified copy of the death certificate must be provided and retained by the co-op. To obtain a certified copy of the death certificate, contact the funeral home in charge of services or the office of vital statistics in the state where the member expired.

Note: If a surviving spouse applies for an account, and the account has been in good standing, a $5 membership fee is required. Deposits may be assessed for accounts that have paid late. If another immediate family member applies, no service charge will be required. Standard deposit requirements must be met and the $5 membership fee must be paid.

Additional Information: In lieu of obtaining the signatures of all heirs, a will may be used. The will must be probated when the capital exceeds $2,000, and probate documentation must be provided. A copy of the will must be provided, and the Executor or Executrix must provide their notarized signature.

In lieu of obtaining the signatures of all heirs, a Letter of Administration may be used. The Letter of Administration must be an original certified copy and will be retained by the Cooperative. The Administrator must provide their notarized signature.

In lieu of obtaining the signatures of all heirs, a court order may be obtained from the appropriate county. Each county assesses different fees for court orders. The Cooperative may compose a letter to the appropriate Clerk of Court estimating the amount of capital available. No signatures are required when a court order is used.

Accrued capital credit on joint accounts will be transferred to the surviving spouse.

Capital credit is only payable through the date of death of the member. Any capital accrued after that date will be transferred, when possible, to the heirs.

Estimates of capital credit amounts are dependent on date of death, final and uncollectible balances of the member, and uncollectible balances of heirs.

Capital credit checks are normally issued within 30 days of submission of completed documents and payment of the final bill. Check payable information may not be changed once forms are submitted.

Deceased Capital Credit Form

Signature Form