October is National Co-op Month and cooperatives across the nation have taken the month to celebrate and educate on cooperative principles. Social media is one of the primary communication methods for cooperatives and Facebook and Twitter are filled with posts celebrating National Co-op Month.
With over 64,000 cooperatives and over 350 million cooperative members, the United States benefits from the many electric cooperatives and members across the nation. All cooperatives follow the same seven principles, which guide each decision made. From members economic impact, to concern for community – cooperative principles are designed to provide open membership and community benefit to their members.
A major market participating in national co-op month is the electric cooperative industry. With over 900 electric cooperatives in the nation, the electric cooperative industry provides power for over 56% of the nations landmass.
So, what makes the electric cooperative different from an investor-owned utility? The most impactful difference is in the cooperative world, any excess revenue is given back to the member.
Electric cooperatives don’t serve customers, instead they serve their members. Each member has a voice and a vote in how their cooperative will operate from year to year. While that may sound chaotic, an elected board of directors meets each month to provide direction to the cooperative. Board meetings are usually open to the public and members are encouraged to attend.
Members passionate about their local cooperative can run for election. Cloverland Electric Cooperative in Dafter, Michigan has an election each year. Members are encouraged to run for the board and vote in the election.
Another cooperative principle followed is “concern for the community”. Cullman Electric Cooperativecelebrated this principle at the start of National Co-op Month with a parade at Cullman Primary School. Many electric cooperatives choose to give back to the community through bill round-up programs. Bill round-up programs at Cherryland Electric Cooperative and Cloverland Electric Cooperative donate the round-up funds to foodbanks and scholarships.
Electric cooperatives are an asset to their communities. A heart for volunteering, a passion for the community and a driven mission to give money back to members in the form of capitol credits, ensure electric cooperatives keep the interest of their members in mind. While there are many differences between electric cooperatives and investor-owned utilities – the purpose of each remains the same. To keep members and customers powered.
Consider joining your local cooperative as a board member. The joy of giving back to your local community will be worth every minute of invested time. Happy National Co-op Month!
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