Planning Ahead: Why a Payable on Death Form Matters for Members

At Western Cooperative Electric, being a member means more than receiving reliable electric service—it means ownership. As a member, you earn capital credits over time, representing your share of the cooperative’s margins.

While capital credits are typically retired and paid out over time, there may be a remaining balance at the time of a member’s passing. That’s where a Payable on Death (POD) form becomes an important and valuable tool.

A POD form allows you to designate one or more beneficiaries to receive any remaining capital credits tied to your membership. By completing this simple form, you provide clear direction to the cooperative, helping ensure your capital credits are distributed according to your wishes.

Without a POD designation on file, the process can become more complicated for your loved ones. Additional estate documentation may be required, which can delay the distribution of funds during an already difficult time. A POD form helps avoid unnecessary confusion and allows for a more efficient estate retirement process.

Members appreciate that the POD form is flexible and easy to manage. You may name one beneficiary or multiple beneficiaries, assign percentages, or update your designation at any time. The form applies only to your capital credits with Western Cooperative Electric and does not replace or interfere with your will or other estate plans.

Former members may also have capital credits on record and are encouraged to complete a POD form as well. Even if you no longer receive service from Western, your membership history may still carry value.

Completing a POD form is a simple step that can make a meaningful difference for your family. It ensures your wishes are known and helps ease the administrative process for those you leave behind.

If you are unsure whether you have a POD form on file, or if you would like to complete one, Western Cooperative Electric’s Member Services team is here to help. Forms are available at the office, online, or by request, and notary services are available during regular business hours. Download the form from the bottom of the Capital Credits page: https://westerncoop.com/capital-credits

For more information, contact Western Cooperative Electric at 785-743-5561 or visit www.westerncoop.com.