Accounting Center Notes

Several members have called and told us that they can not find their patronage check written in 2004. No patronage was issued in 2004 and no 1099 Patronage form was created. The Board of Directors elected to take the Farmland Bankruptcy loss internally, so no patronage was paid to members. In lieu of paying patronage, 40% of the equity that members had earned up to and including 1986 was revolved back to the members. If you were a member in 1986 or prior, you should have received a check for this revolvement and you most likely paid taxes on this patronage when it was earned in 1986 or prior. If you have any questions, please give us a call.

I hope you have taken the opportunity to sign for our new Online Account Center. If you have any comments or questions, please let Brian Gates bgates@hoic.com or Mike Thomas mthomas@hoic.com know. We hope this new service will enhance your business. We hope to continue to make enhancements to the information presented, so if there is other information you would like on the web site, please let us know. Please take time to thank our sponsors when you visit their establishments.

Remember that accounts are due by the 15th of the month. Please plan accordingly and make sure your payment is in by the 15th to avoid finance charges. To help you make sure your payment is in by the 15th of the month, you can now have your account balance or a specific dollar amount deducted directly from your Checking/Savings Account by signing up for Automatic Bill Pay, using the option at the right. Thank you for your business and we want to continue to do business with you. Please call us at your earliest convenience at 515-388-4341 or toll-free at 1-800-662-4642. We'll be happy to speak with you!

Thank you for doing business with your business!