Governor Kim Reynolds Declares October as “Co-op Month in Iowa”

POSTED on October 9, 2024 IN ICUL

Nearly half of Iowans are members of cooperatives in sectors such as agriculture, rural electric, credit unions, rural telephone, farm credit, petroleum, and retail.

IOWA - Governor Kim Reynolds designates October as “Co-Op Month in Iowa.” The Proclamation highlights several key points: 

• Concern for the community is a fundamental cooperative principle
• Cooperatives invest significant human and financial resources to benefit their communities beyond their core business activities. This includes charitable contributions that address the needs of underserved groups, investments in community development that create jobs and services, involvement in environmental protection efforts, and innovative projects aimed at improving child health, welfare, and quality education.
• The commitment of cooperatives to their communities boosts economic opportunities and enhances the quality of life in towns and cities across Iowa.
• In October, cooperatives from various sectors and industries reaffirmed their dedication by pledging to remain actively involved in the communities where their members live and work.

Murray Williams, President and CEO of the Iowa Credit Union League, expresses pride in the cooperative movement: “Iowa credit unions are committed to enhancing the financial well-being of Iowans. Our ‘people helping people’ philosophy aligns with that of other cooperatives, and together, our combined efforts significantly contribute to the growth of local communities.”

Nearly half of Iowans are members of cooperatives in sectors such as agriculture, rural electric, credit unions, rural telephone, farm credit, petroleum, and retail. Co-ops are not-for-profit organizations owned and governed by their members, who elect their board of directors from within. Unlike traditional profit-driven entities, co-ops focus on serving their members rather than generating profits for external investors.

Dave Holm, Executive Director of the Iowa Institute for Cooperatives, highlights the dual role of co-ops: “Co-ops are committed to benefiting their members while also addressing the needs of their local communities.”

Cooperatives support over 1.5 million members across Iowa, impacting both rural and urban areas. In rural communities, they contribute approximately $60 million in property taxes and support essential infrastructure. Additionally, Iowa cooperatives employ more than 12,000 individuals.

Leslie Kaufman, EVP and General Manager of the Iowa Association of Electric Cooperatives, emphasizes the economic development impact of local electric cooperatives: “We take pride in our legacy of powering lives and empowering communities. Over a recent 5-year period, electric co-ops had an impressive impact of $4.7 billion in economic development projects in rural Iowa.”

For more information on the role of cooperatives in Iowa’s economy, visit www.iowacooperatives.com.

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The Iowa Credit Union League is the trade association that represents the interests of Iowa credit unions and their more than 1.5 million members. Credit unions are not-for-profit, financial cooperatives owned and operated by their members. Iowans use their credit union membership to receive higher interest rates on savings and lower interest rates on loans. For more information on ICUL, visit iowacreditunions.com.

The Iowa Institute for Cooperatives, established in 1951, is dedicated to enhancing the success of member cooperatives across Iowa. By providing education, advocacy, and resources, the Institute supports a thriving cooperative community. Located in Ames, IA, it serves as a vital hub for cooperative development and collaboration.

The Iowa Association of Electric Cooperatives is a trade association established to support the interests of member-owned electric cooperatives, including 39 distribution co-ops and 9 generation and transmission co-ops. Formed in 1942, IAEC aims to unify and empower Iowa's electric cooperatives through legislative representation, regulatory oversight, training and education services, safety programs, communications support and advocacy.