As an member-owner of WFEC, excess revenues are normally credited back to your account annually. In the event of a member’s passing, capital credits are refundable at their death and payable to heirs – a surviving spouse and children.
The following steps must be completed in order for capital credits to be distributed to heirs:
- The deceased member’s account must be closed and the final bill paid. If the surviving spouse applies for a meter, and the account has been in good standing, a $5 membership fee is required. For accounts that have been paid late, a deposit may be assessed. If any other immediate family member applies for the meter, no service charge will be required. Standard deposit requirements must be met and the $5 membership fee must be paid.
- The Deceased Capital Credit Form and the Signature Form should be completed, numbered and signed by a cooperative representative. Once the form is issued, it may not be altered in any way. Altered documents will not be accepted by the Cooperative. Heirs should indicate to whom the check will be made payable. When a letter of administration is used, the check will be made payable to the administrator, care of the estate.
Notarized signatures of heirs must be obtained on the Signature Form. Heirs are defined as:
- Surviving spouse and children
- If no children, spouse only
- If no surviving spouse, 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 to the cooperative and will be retained on file. 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.