Capital Credits

Capital credits are just one of the differences at Guthrie County REC

Guthrie County REC is a not-for-profit, member-owned electric distribution utility, which means our members own the cooperative not private investors. We are committed to providing you with safe, reliable, affordable and environmentally responsible power.

Every year Guthrie County REC issues thousands of dollars back to its members in the form of what is known as capital credits or patronage dividends. These dividends are refunded to our members because the Guthrie County REC needs only to cover the cost of yearly operations. Any capital over and above that cost (net profit) is collected and allocated back to our members.

As a member of the cooperative, you share in the profits. The time period for which you are a member of the cooperative, you will accrue capital in the cooperative during the years of service. The actual cash amount that is allocated back is determined by the cooperative's board of directors. The board of directors may deed to hold patronage to maintain adequate cash flow; to preserve enough equity in the cooperative; and to reinvest dollars in the system improvements, new services and capital budget.

Each year you will receive in the mail a allocation outlining the total amount of equity your account has accumulated during the years of service. This allocation statement is sent as a courtesy so that you may be kept informed of your investments in your cooperative.

Always keep the Guthrie County REC informed of all changes to your account. This is the appropriate way to keep your capital credit correct. Such changes are address changes, changes to names on accounts, these are just to list a few ideas.

Guthrie County REC publishes a list of all unclaimed patronage dividends or capital credits in our newsletter each year. As provided by Iowa law, Guthrie County REC may deem any unclaimed dividends to be forfeited after three years. The abandoned property shall be used for education or economic development purposes deemed fit by the cooperative.

If you suspect you may have unclaimed dividends with Guthrie County REC, contact us at 641.747.2206 or 888.747.2206. Be sure to include your name, current address and phone number in your correspondence with the cooperative. If you are making a claim on behalf of a deceased individual, please call our office.

Estates

Guthrie County REC members approved to start paying out estates all at one. Before the REC can pay out to the estates, the active account has to be put into a new owners name or disconnection of service. The REC will only pay out to one person for the estate then it is that individual's responsibility to divide the check up. Guthrie County REC requires an uncertified copy of a death certificate, proof of executorship along with a waiver that you can get from the cooperative's office.

Agreement Termination Membership Form
Waiver of Immediate Payment

If you are interested in finding out more information on the process of the estates, please contact  Marlene at Guthrie County REC at 641.747.2206 or 888.747.2206.