Gov. Reynolds declares October as Co-op Month in Iowa

Governor Kim Reynolds recently signed a proclamation declaring October as "Co-Op Month in Iowa." The Proclamation, available to download below, 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.

For More Information:

Erin Campbell
IAEC Director of Communications