MEA is holding $451,000 in refunds for members it can't find

Matanuska Electric Association is holding more than $451,000 that belongs to its members and can't find them — including about $15,000 owed to a single person.

The co-op updated its unclaimed capital credits list Sept. 1. It runs to roughly 7,760 names, with refunds dating back to 1997 and averaging about $57 apiece. Most go unclaimed for a simple reason: the member moved, and MEA no longer has a current address.

Capital credits are a co-op member's share of revenue that exceeds the cost of providing service. MEA allocates them based on how much electricity a member used, and the board approves paying them out when finances allow.

Anyone who finds their name on the list can call MEA Member Services at 907-761-9300 to verify the account and have a check reissued. The co-op says there's no expiration on that: "At any time, no matter how long ago the initial check was issued, a member with an unclaimed capital credit may follow up with MEA to request the check be re-issued."

State law is less generous. Unclaimed co-op payouts can revert to the cooperative after a year, provided it mails notice to the member's last known address, posts the list publicly and advertises it. MEA's list is headed with an escheat date of Aug. 14, 2026, but the co-op's website doesn't explain how that squares with its promise to reissue checks at any time.