Your Capital Credits remain on Trico’s financial records in your name until they are retired. Capital Credit retirements to your account will continue to be made until the balance is fully paid out, typically over a period of up to 25 years.
It is your responsibility to notify Trico of any changes in address, so you can be located when it is time to retire Capital Credits. Capital Credit checks that are returned with no forwarding address information will be held for three years. If not claimed, the funds are transferred to the Trico Foundation to fund educational programs and scholarships.
In the case of a member passing away, if your membership is a joint membership, the surviving spouse becomes the sole member, and the Capital Credit account remains in the name of the surviving spouse. Allocated Capital Credits will continue to be retired to the surviving spouse on a normal retirement schedule.
If the membership is a single membership, the estate of the member may assign the Capital Credit account in accordance with the Last Will and Testament of the deceased member, or the Personal Representative of the deceased member’s estate may apply for a retirement of the member’s capital account on a discounted basis. The Board has full discretion with respect to the discounted retirement of Capital Credit balances to estates. The estate must submit a request for a discounted retirement with acceptable documentation for consideration by the Board.