Governor Kim Reynolds Declares October as “Co-op Month in Iowa”
October has been declared “Co-Op Month in Iowa” by Kim Reynolds. In the proclamation, the Governor mentions:
- Grain and farm supply cooperatives in Iowa generate significant income, employment, and revenue and function as engines of economic growth for local communities as they operate in 700+ communities, employ 8,000+ people, serve 122,000+ member-owners, and pay over $32 million in property taxes locally; and
- Rural electric and telephone cooperatives connect Iowans and have helped bring $10 billion in investment to rural economic development over the past 30 years, employ 1,500+ people, have 690,000+ member-owners, and pay more than $14 million in property taxes each year; and
- Credit unions in Iowa, as financial cooperatives, improve the financial lives of consumers, function as engines of economic growth as they operate in all 99 counties, employ more than 4,200 people, serve 1.3 million member-owners, and contribute $1.6 billion in economic output.
“Co-ops exist for the benefit of their members, while also serving the needs for their local communities,” said Dave Holm, Executive Director of the Iowa Institute for Cooperatives.
More than one out of every three Iowans is a member of a co-op through industries like rural electric, credit unions, rural telephone, farm credit, petroleum, retail and more. Co-ops are not-for-profit organizations that are owned and democratically controlled by their members. They exist to benefit the people who use the co-op’s services, rather than to generate profits for outside investors, and members elect their board of directors from within the membership.
“Iowa credit unions are proud to be part of the cooperative movement and are committed to improving the financial lives of Iowans,” said Murray Williams, President and CEO of the Iowa Credit Union League.
Co-ops benefit both rural and urban Iowa, serving more than 1.4 million members throughout the state. In rural communities alone, co-ops pay approximately $41 million in property taxes and help support critical infrastructure.
“Iowa’s locally owned electric cooperatives are proud of our legacy of powering lives and empowering communities. Our mission is to provide co-op members with safe, affordable and reliable electricity that is sustainable,” remarked Chuck Soderberg, EVP and general manager of the Iowa Association of Electric Cooperatives.
Visit www.iowacooperatives.com to learn more about how cooperatives are critical to Iowa’s economy.
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