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Your board of directors approved a capital credit payment of approximately $1,000,000 for 2012 and half of 2016. If you received service from us during that time, you will have a credit on your September bill statement that is based upon your usage during those calendar years.
Linn County REC is a member owned, not for profit cooperative under Iowa law. When there are profits that exceed the amount needed to operate the cooperative, they go back to our members in the form of capital credits.
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. If you received service from us during that time, you will have a credit on your September bill statement.
If you would like to know if you have capital credits owed to you, please fill out our form to submit a request: