At its May meeting, the East-Central Iowa REC Board of Directors approved the retirement of $565,018 in patronage dividends to members of the Cooperative.

Members who received electric service from ECI REC during 2011 and 2015 should receive a patronage dividend credit this month. Active member-accounts will see the credit reflected on their enclosed June electric bill, while former members who are no longer receiving service from ECI REC will receive their retirement in the form of a check mailed to their forwarding address on file.

As a nonprofit electric cooperative, ECI REC operates at cost. Margins remaining after expenses are allocated back to members and returned over time as our financial condition allows. This is one of the unique benefits of cooperative membership.

This year’s retirement will return money to 6,980 current and former members. Over the past 10 years, ECI REC has returned $5,498,092 to its membership through patronage dividends.

If you have questions about your patronage dividends, please contact us at 319-443-4343 or ecirec@ecirec.coop.