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inside your co•op


A monthly newsletter of Choctaw Electric Cooperative.


BOARD OF TRUSTEES


Brent Franks, President Joe M. Silk, Vice President


Mike Brewer, Secretary Treasurer Stacy Nichols


George Burns Ken Autry


Bill Woolsey


Norman Ranger Becky Franks


MANAGEMENT AND STAFF


Kenneth J. Gates, Chief Executive Officer Jennifer Smith, Executive Assistant Jia Johnson, Director of Public Relations Craig McBrain, Chief Financial Officer Jim Malone, Director of Operations Darrell Ward, System Services Manager


HUGO OFFICE PO Box 758 Hwy 93 North


Hugo, Oklahoma 74743


Toll Free: (800) 780-6486 Local: (580) 326-6486 FAX (580) 326-2492


Monday-Friday • 8 am - 5 pm IDABEL OFFICE


2114 SE Washington Idabel, Oklahoma 74745


Toll Free: (800) 780-6486 Local: (580) 286-7155


Monday-Friday • 8 am - 5 pm


ANTLERS OFFICE HC 67 Box 62


Antlers, Oklahoma 74523 (One mile east of Antlers)


Toll Free: (800) 780-6486 Local: (580) 298-3201


Monday-Friday • 8 am - 5 pm On the Web:


www.choctawelectric.coop


24 Hour Outage Hotline 800-780-6486


2 | DECEMBER 2016 | CEC Inside Your Co-op FIND IT ONLINE


Q Storm Center Helps You Prepare. Winter storms are always a possibility this time of year. To help you prepare for storm-related outages and emergences, visit Choctaw Electric's online Storm Center. You'll find advice on how to prepare for an extended outage, information on how to report a power outage, and a link to current weather conditions and forecasts. To visit our Storm Center, go to www.choctawelectric.coop. Click on Safety Tips and then Storm Center.


t’s time for you to get the credit —capital credits, that is, for helping build, sustain, and grow your Choctaw Electric Cooperative (CEC). In December CEC will pay over $1,554,000 to members like you served by the co-op. Because CEC is a member of Western Farmers Electric Cooperative, the co-op received a patronage capital credit refund of $370,070 that will also be passed on to members in a separate payment.


I


BY KENNETH J. GATES cHIEF EXECUTIVE OFFICER


If you were a CEC member from 1985- 1987 you will receive your capital credit retirement check in the mail. The amount reflects your contribution of capital to, and ownership of, the cooperative during those years. That may seem like a long time ago; however, those funds helped maintain, and expand a reliable electric distribution system, and covered emergency expenses.


When you signed up to receive electric service from CEC you became an electric cooperative member. A cooperative is an enterprise that is collectively owned and operated for the mutual benefit of its members. Owned by the people they serve, cooperatives provide services at cost. After paying operating expenses, a co-op's remaining margins, or profits, are allocated to members based on that


MANAGEMENT PERSPECTIVE YOU GET THE CREDIT! Choctaw Electric retires over $1.9 million to members


member's use of the service and the revenue received. While investor-owned utilities return a portion of any profits back to their shareholders, electric co-ops return leftover funds to our members based on how much electricity a member purchases during a year. This is one of the benefits of being a member of CEC.


The CEC board of trustees decides when to return capital credits after a careful review of co-op finances. As reported at the CEC Annual


Meeting, your co-op is financially sound and our ability to return margins to you is a reflection of this financial health.


The CEC board of directors and management believe very strongly in the principle of regular capital credit payments and will be working diligently to continue this practice as outlined in your CEC bylaws.


To help you better understand capital credits, please read the Q&A found on page 4 of this issue. If you have further questions, please give us a call at 800- 780-6486. We are here to serve you.


CEC


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