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Words Matter


ds Matter


When we talk about electric cooperatives, we use very different words than when we talk about investor-owned utilities (IOU). Cooperatives are not-for-profi t, meaning they only collect enough money, or capital, to cover expenses. If more than needed is collected, it is credited back based on the electric usage of the person receiving service. With an IOU, the goal is to collect more than needed from customers and pay investors money.


Cooperatives are controlled by the people that receive the service, through their selection of representatives during meetings of the cooperative. The group of representatives work with the managers and employees to write policies to guide the cooperative for the benefi t of the people receiving service. Customers of an IOU have no say in how the IOU is managed.


Encourage the grown-ups you know to attend cooperative meetings, so their voices and interests are heard. Write the le tter of the defi nition bes ide the word(s ) it bes t fi ts .


Trustee Cooperative De⇒ niƟ ons: A. Money paid to an investor.


B. A group of individuals, elected or appointed, that work together to establish policies and guide the operation of an organization.


C. A gathering of cooperative members to conduct the business of the cooperative and elect representatives.


D. The amount of money left over at the end of a business year once all the operating expenses of a cooperative have been paid.


E. A person that belongs to a group or organization. F. A guiding principle or procedure. G. A person elected or appointed to represent others. H. An organization owned by investors and operated in order to generate a profit. I. Being guided by the people, either directly or through elected representatives.


J. An organization that exists to provide goods and services to its members. The members own equal shares of the organization. All members benefit equally.


If you are 12 or under, complete this acƟ vity and mail it to the address below by September 1 to enter a drawing for a prize! Feel free to make copies if more than one youth would like to complete the acƟ vity.


COMPLETE THIS INFORMATION BEFORE MAILING!


Name: _________________________________________________________________ Address: _______________________________________________________________ City, State______________________________________________________________ Zip Code:______________________________________ Age:_____________________ Parent/Guardian’s Name:__________________________________________________


Mail to: Kelly NEOEC P O Box 948 Vinita, OK 74301


August 2016 - 7


Board of Trustees _____ Dividend Member


_____ _____


_____ _____


Policy


Investor-owned Democratic


Capital Credit Annual Meeting


_____ _____ _____ _____


_____


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