About Patronage
As a member owned and operated cooperative, one of the principles we follow is a commitment to returning part of your investment.
Patronage, or Capital Credits, represent margins credited to member-owners of a cooperative based on their purchases from the cooperative. Each year, Franklin REC’s Board of Directors reviews margins and may set aside excess funds. These margins will be used to help keep the electric co-op financially sound and maintain a quality of service as high as possible. The funds will also be used to retire debt and build equity in the co-op’s distribution system.
Unclaimed Patronage
Franklin Rural Electric Cooperative is holding unclaimed property resulting from a refund due to the persons listed. The owner may claim this property by contacting us at 1560, Highway 65, PO Box 437, Hampton, Iowa, 50441, emailing kringleb@franklinrec.coop, or calling 641-456-2557 and asking for Karen.
As provided by Iowa Statutes, the cooperative may deem any unclaimed dividends to be forfeited after three years. The abandoned property can be used for education or economic development purposes deemed appropriate by the cooperative.