Chugach Electric mails capital credits checks

Thousands of past and long-term Chugach Electric Association members are receiving a share of a $3.8 million retail capital credits retirement approved by the Chugach Board at its November meeting. Capital credits are a unique benefit of belonging to Chugach, a member–owned cooperative. Over the past 20 years, Chugach has returned more than $48 million in capital credits to its members.

Chugach is currently mailing checks or giving credit on accounts to more than 33,000 former and current members of record for the remainder of capital credits earned in 1986 and a portion of credits earned in 1987. Each member’s share of the capital credits is based on the amount of energy purchased and the margins – known as profits by other businesses – Chugach achieved in those years.

Active members who are due less than $600 from the retirement will receive a credit on their account. While the average member will receive a check or credit in the amount of $84, the largest check being issued is nearly $153,000. Members leaving the Chugach system should provide a forwarding address and keep Chugach updated on future moves until all of their allocated capital credits have been retired.

Current members may check the status of their capital credits accounts online at www.chugachelectric.com. Past and present members may also receive information about their capital credits accounts by calling customer service at 563-7366.

Chugach is the largest electric utility in Alaska, providing power for Alaskans throughout the Railbelt through retail, wholesale and economy energy sales.