To our valued consumer-members:
Belonging to a cooperative means you have a stake in the cooperative’s financial well-being. Simply by paying your bills throughout the year, you have helped Heartland ensure we were able to maintain stable electric rates, invest in preventative maintenance programs, and make necessary infrastructure upgrades.
We are pleased to inform you that the Heartland Board of Directors has authorized a capital credit retirement for 2022 as a way of recognizing your contributions to the cooperative and honoring our commitment to returning excess revenues to our members. Since Heartland’s inception in 1997, we have retired more than $17 million in capital credits. For those with at least $10 in retired capital credits, a check was mailed on December 9.
We do wish to make you aware that the next time the Heartland board authorizes a capital credit retirement, each member that has accrued at least $10 in retired capital credits and has an active account will receive a credit on their December bill for November usage instead of a printed check in the mail. This credit will be equal to the amount they would have received via check. Former members who do not have active accounts will continue to receive checks as they did before.
Please understand that the intent behind this change is to streamline the process of distributing these funds to our members. The unfortunate reality is that printing and mailing checks has become both slower and more expensive than other options. This change will help us keep our operational costs low, which in turn will contribute toward stability for our electric rates.
We thank you for your continued support and wish you a joyous holiday season.