You may name a beneficiary to receive your capital credits upon your death.
If you complete the Capital Credits Beneficiary form, we will keep the information on file. Upon your death, the beneficiary you have named on the form may claim the capital credits in your account. Having this form on file with SMECO will simplify the process of claiming capital credits for your loved ones during a sad and stressful time. By naming your beneficiary, capital credit funds will not be tied up with your estate; they will be paid directly to your beneficiary.
Please complete the form below, and make a copy of the information and include it with your important papers. (One form submission per SMECO member, even if the member has multiple accounts.)
For more information, please call SMECO at 1-888-440-3311 to speak with a customer care representative, or visit Capital Credits.
The form below is only for residential members. Commercial accounts, charitable organizations, trusts, or businesses cannot name a beneficiary, and they cannot be designated as a beneficiary.
If one member on a joint account passes away, the surviving member becomes the sole owner of the capital credit funds. Lump sum payments are not issued to the surviving member of a joint account. The surviving member will receive capital credits when general refunds are distributed.
To claim capital credit funds upon the death of a SMECO member, beneficiaries will be required to obtain a death certificate, submit proof of their identity with a government-issued photo ID, and fill out the Beneficiary Request Form.