It pays to be a cooperative member.

Capital Credits FAQ

Capital credits are a return of money paid for service(s) in a previous year. Each spring our board of directors allots funds remaining, after all expenses are paid, into a pool designated for patronage capital (capital credits). These funds are then allocated to our members based on your service usage for the prior year. Allocations remain in each member’s account until retired in accordance of the cooperative bylaws. Click here for a copy of Heart of Iowa’s bylaws.
The board works along with our auditors each year to decide if a member payout of capital credits is feasible. If so, the board will then decide what percentage of what year or years to pay out (retire) from each member’s account.
These funds are used as working capital to maintain and update our facilities to continue offering our customers state-of-the-art service.
Typically, no for a residence, however, please contact your tax specialist.
You will continue to receive capital credits as the years are retired by the board until paid in full. We ask that you keep us updated with your mailing address until that time. Address changes can be sent by mail, email, accounting@heartofiowa.coop, or you can call the office (1-800-806-4482 or 641-486-2211).
A deceased member’s capital credits can be paid early at a discounted rate. A representative of the Estate should contact us by calling 1-800-806-4482 or 641-486-2211 or emailing accounting@heartofiowa.coop.

Capital credits will remain in both member’s name until legal documentation is obtained to make changes or divisions. Contact us by calling 1-800-806-4482 or 641-486-2211 or emailing accounting@heartofiowa.coop.

If we are unable to find a member after 3 years, unclaimed funds are used for educational scholarships for students graduating from our local schools. Outstanding Checks.2024