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Co-op’s annual meeting is a day set aside just for you


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s it possible to be appreciated too much? We think not. That’s why we set aside one day each year to show how much we care about you, our members. It’s not every day that your utility company throws a big party in your honor—a


party that includes lots of prizes, free food and entertainment. But the board of trustees at Northeast Oklahoma Electric Cooperative firmly believes that REC members, each of whom owns a share of the cooperative, deserve a little pampering. Hence, the trustees have directed the co-op to roll out the red carpet for its membership on a special day. This year that day of special treatment falls on September 15.


Northeast Oklahoma Electric Cooperative’s 74th annual meeting — known by many as simply “REC Day” — will take place at the Grove Civic Center.


A good time is all but guaranteed for members who take


part in the REC Day festivities. Registration runs from 8 a.m. until noon, and members who register automatically qualify themselves for numerous prize drawings. They can win flat panel TVs, a washer/dryer set, a new refrigerator, and much more. Five kids will win new laptop computers, perfect tools to help them with their homework this school year. And let’s not forget about those $500 electric credits that will be awarded to members from the each of the cooperative’s nine districts. Remember, too, that once you register, you needn’t be present to win. Your name will be announced at the meeting if you are one of the lucky winners and the co-op will contact you and let you know. Hungry? We’ve got that covered, too.


(continued on page 14) Capital credit refund authorized


Current and former members who received electric service from the cooperative from 1984 to 2011 are eligible for a refund. Checks will be mailed to eligible members in September 2012 for their portion of the credit retired. Amounts totaling less than $10 will roll over to future years and a check will be issued after a minimum amount of $10 is reached.


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Electric cooperatives create ownership for members by allowing them to share in the success of the business. Unlike other utilities, your cooperative exists to make sure your needs are met—not to make a profit. As a member-owner, you share in these profits in the form of capital credit refunds.


The cooperative works hard to keep rates low, and profit (or


margins) go back to you—the member/owner. Rates are set at a level necessary to pay operating costs, make payments on loans, and provide an emergency reserve. Operating costs are subtracted from the total amount collected during the year. The balance is margins. Margins are


allocated based on kWh usage.


Before distributing the capital credit, NEOEC’s board of trustees first considers the financial condition of the cooperative, the need for capital funds, and the availability of loan funds. The board is honored to serve you and to have the opportunity to share the success of 2011 with you because our success is your success.


ortheast Oklahoma Electric Cooperative’s board of trustees recently authorized the distribution of $250,000 in capital credit. Capital credit represents member equity in the cooperative.


Connection Northeast


Northeast Connection is published   and innovative thinking that enhances   Cooperative.


 Communications Specialist Clint Branham  branham@neelectric.com.


Vinita headquarters:  





Business hours: Monday-Friday, 8 a.m.  Sunday and holidays.


 1-800-256-6405


 check your switch or circuit breaker in the house and on the meter pole to be sure the   or discuss your account, please use the name as it appears on your bill, and have both your pole number and account


number ready.


 President   Vice President John L. Myers


Secretary-Treasurer 


District 4 


  


  Member Sharron Gay


Member 


Member 


Member Jack Caudill Member


District 6   District 9


NEOEC Management Team Anthony Due General Manager





 Susanne Frost


 Cindy Hefner


 Connie Porter


 Rick Shurtz


 September 2012


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