Notice of: Unclaimed Capital Credits

NOTICE IS HEREBY GIVEN TO MEMBERS AND FORMER MEMBERS OF NORTHERN NECK ELECTRIC COOPERATIVE (the “Cooperative”):

Certain members or former members of the Cooperative may have unclaimed capital credits that have been ordered to be retired by the Cooperative’s board of directors. Please read this notice carefully to see if you may have unclaimed capital credits due to you.

If you are an heir or descendant of a deceased person who was a member of the Cooperative and for whom we have no record of a spouse or next of kin, or if you are a member or former member of the Cooperative for whom we have no forwarding address following a termination of service (together, the “Potential Claimants”), you may have unclaimed capital credits.

Capital credits are allocated each year from the margins of the Cooperative and represent members’ equity in the Cooperative. After a period of years, and subject to the discretion of the Cooperative’s board of directors and applicable Virginia law, the allocated capital credits are retired and distributed to members of the Cooperative.

Occasionally, when members move out of the Cooperative’s service territory, otherwise terminate service, or die without heirs, descendants or an estate, the Cooperative is unable to retire the capital credits to whom they are owed.

Pursuant to § 56-231.31:1 of the Code of Virginia, the Cooperative hereby publishes notice of unclaimed capital credits and asks that if you are among Potential Claimants of unclaimed capital credits that you use one of the following methods to see if any money is due to you:

• Visit the Cooperative’s website at nnec.coop, and under “My Account,”  click on “Capital Credits” and then click on “View Unclaimed Capital Credits.” The list of Potential Claimants may be downloaded and reviewed.

• To inquire about claiming Capital Credits, please fill out the form below. (Please note: Due to high volume of requests, please allow 12-15 business days for reply.) 
• If the person is deceased, please see this Deceased Member - Capital Credit Walk-through
• Visit the Cooperative’s office at: 85 St. Johns Street, Warsaw, VA 22572. The office has a copy of the list of Potential Claimants.

PLEASE TAKE NOTICE that, should the capital credits described in this notice remain unclaimed after the prescribed period in the statute, the Cooperative may retain the unclaimed capital credits as a donation in accordance with the law.