Capital Credits: What Have You Earned?
Linn County REC is a member owned, not for profit cooperative under Iowa law. So when there are profits that exceed the amount needed to operate the cooperative, they go back to you, the member, in the form of capital credit payments.
Your board of directors approves the allocation of capital credits. They also determine what amount is to be paid annually. Until then, these margins are reinvested to maintain and improve the electric system until the capital credits are issued to members.
After reviewing the operating revenues for 2011, your board of directors approved a capital credit payment of approximately $611,000 for the remaining portion of 2002 and all of 2011. If you received service from us during that time, you will have a credit on your September bill statement that is based upon your electrical usage during that calendar year. Your credit amount will be a blue highlighted line item that reads “Linn County REC capital credit”.
Linn County REC has returned over $12.1 million in capital credits to members since its incorporation. If you have questions regarding capital credits, please contact our office at 319-377-1587 or toll free in Iowa at 1-800-332-5420.