Capital Credits
Linn County REC is a not-for-profit cooperative under Iowa law. That means as a member, you receive profits (margins) from Linn County REC in excess of any amount needed to operate the cooperative. These profits (margins) are called capital credits and are allocated to members based upon their usage during that calendar year. The board of directors approves the allocation of capital credits. They also determine what allocations can be paid annually. Each year you will be notified of your share of the margins for the previous year.
Between the time you are notified of your capital credit earned and the time it is paid, the money is used to maintain and improve the electric system to ensure your service is the best possible.
Capital credits cannot be paid back to the members until the cooperative's loan indebtedness is sufficiently reduced and the financial condition of the cooperative will permit. At that time, your board of directors, in accordance with Iowa law, may begin refunding your capital credits to you. Capital credit payments appear as a credit on your electric bill, generally in the month of September.
Previous members that have an unpaid debt to the cooperative will have their future capital credits reduced by that amount.
To find out if you or your organization is on our list of uncollected capital credits checks, view or download this text file.
If your name or organization is listed or cannot view or download the file, fill out the form below or contact our office at 377-1587 or toll free in Iowa at 1-800-332-5420.
Linn County Rural Electric Cooperative | PO Box 69 | 5695 REC Drive | Marion, IA 52302-0069 | 319.377.1587 or 800.332.5420
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