We are member owned.

If you're a member of Howard Electric Cooperative, you're also an owner! When the cooperative has margins above operating costs at the end of the year, the Board of Directors allocates that money back to members based on usage in the form of capital credits. Allocation notices appear on October billing statements. 

Each year, the board of directors reviews the financial status of the cooperative and determines if a portion of the capital credits can be returned to the membership. If a return is authorized, capital credit checks are mailed out in May. When a member moves off of Howard Electric lines, it is important to inform the cooperative of mailing address changes since checks will continue to be issued for several years. 

If a capital credit check for someone who is no longer a member of Howard Electric does not get cashed, it is marked unclaimed. Any patronage capital remaining unclaimed after a two-year period and 60 days after publication of notice of names is forfeited and considered to be an irrevocable assignment to the cooperative. These unclaimed funds are invested through the Greater Kansas City Community Foundation and matching funds from Co-Bank are given back to the community in Howard Electric's service area. The Unclaimed Capital Credits list is published in the November issue of the Rural Missouri magazine.

Under HEC’s capital credit policy, upon approval of the board of directors, heirs may settle the capital credit account of deceased members. Please call our office at 660-248-3311 to request this paperwork.