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Cooperative Allocating 2013 Margins C


ooperative businesses are unique because they are owned by the members they serve and because they are guided by a set of seven principles that


refl ect the best interests of those members. One of the seven guiding principles is Members’ Economic Participa- tion.


Economic participation means simply that members contribute equitably to, and democratically control, the capital of their cooperative. The cooperative does not issue stock, and surpluses are margins, not profi ts. Margins exceeding what is required to operate the cooperative are allocated to member patronage ac- counts. The success of the cooperative is shared with its members through an annual patronage allocation. Your electric cooperative trustees recently al- located 2013 margins totaling $4,602,502 to member patronage accounts. To the average member using 1,370 kilowatt-hours per month during 2013, the amount rep- resents an annual allocation of $120.17. To calculate the capital credits allocated to your member patronage account for 2013, simply multiply the allocation factor of $0.0073098915 by your total annual kilowatt-hours of service in 2013.


Current members of the cooperative will be pro- vided the amount of their allocation on their July 2014 electric bill in the top, right-hand corner. This amount will remain in your patronage capital account until a future patronage retirement is made. Your cooperative management is honored to serve you and to have the opportunity to share the success of 2013 with you. If you have questions about how capital credits are allocated, or if you would like to know the total amount in your member patronage account for this year and previous years, feel free to contact the coopera- tive toll-free at 1-800-256-6405, extension 9313.•


District Meeting Dates Set T


Members from Districts 1, 3, and 5 to meet


hree members of the Northeast Oklahoma Electric Cooperative board of trustees are extending invi- tations to Cooperative members in their respective districts this summer. As always, the invitation includes freebies like soda and giveaways, along with the chance to win one of three $250 electric credits. Dandy Risman, Harold Robertson, and Everett John- ston are up for re-election in 2014 for a three-year term on the Cooperative board of trustees. They are also seeking a little help from members in their respective districts in conducting the yearly business of the Cooperative. Mr. Risman will host the District 5 meeting on Monday,


July 28. On Tuesday, July 29, Mr. Robertson will gather with District 1 members, and Mr. Johnston will convene the District 3 meeting of Cooperative members on Thurs- day, July 31.


8 - Northeast Connection


Section 4.06 of the Cooperative bylaws requires any member to fi le with the cooperative their notice of candi- dacy for trustee during the fi ling period of July 7-11, 2014. Only pre-qualifi ed candidates can be nominated at district meetings.


Members may register for district meetings from 6-7 p.m. Those in line at this time will be given a card ensur- ing their opportunity to register. The meeting will start as soon thereafter as practical or when all members with cards have registered.


Check next month’s issue of the NE Connection for the meeting locations.•


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