Cooperative Allocating 2014 Margins C
oopera ve 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 guid- ing principles is Members’ Economic Par cipa on.
Economic par cipa on means simply that members contribute equitably to, and democra cally control, the capital of their coopera ve. The coopera ve does not issue stock, and surpluses are margins, not profi ts.
Margins exceeding what is required to operate the coop- era ve are allocated to member patronage accounts. The success of the coopera ve is shared with its members through an annual patronage alloca on.
Your electric coopera ve trustees recently allocated 2014 margins totaling $3,120,600 to member patron- age accounts. To the average member using 1,394 kilo- wa -hours per month during 2014, the amount rep- resents an annual alloca on of $80.40.
To calculate the capital credits allocated to your member patronage account for 2014, simply mul ply the alloca- on factor of $0.0048064365 by your total annual kilo- wa -hours of service in 2014.
District Meeting Dates Set T
Members from Districts 4, 6, and 8 to meet
hree members of the Northeast Oklahoma Electric Co- opera ve board of trustees are extending invita ons
to Coopera ve members in their respec ve districts this summer. As always, the invita on includes freebies like soda and giveaways, along with the chance to win one of three $250 electric credits.
John Myers, Sharron Gay, and Bill Kimbrell are up for re-elec on in 2015 for three-year terms on the Coopera- ve board of trustees. They are also seeking a li le help from members in their respec ve districts to conduct the yearly business of the Coopera ve.
Mr. Kimbrell will host the District 8 mee ng on Monday, July 27, at the Oaks Senior Center. On Tuesday, July 28, Ms. Gay will gather with District 6 members at the Adair School Cafeteria, and Mr. Myers will convene the District
4 - NE Connection
4 mee ng of Coopera ve members on Thursday, July 30, at the First United Methodist Church of Vinita.
Sec on 4.06 of the Coopera ve bylaws requires any member to fi le with the coopera ve their no ce of can- didacy for trustee during the fi ling period of July 13-17, 2015. Only pre-qualifi ed candidates can be nominated at district mee ngs. View the ar cle, Trustee Qualifi ca ons, on the next page for informa on on qualifi ca ons and nomina ons.
Members may register for district mee ngs from 6-7 p.m. Those in line at this me will be given a card ensuring their opportunity to register. The mee ng will start as soon therea er as prac cal or when all members with cards have registered.•
Current members of the coopera ve will be provided the amount of their alloca on on their July 2015 electric bill in the top, right-hand corner. This amount will remain in your patronage capital account un l a future patronage re rement is made.
Your coopera ve management is honored to serve you and to have the opportunity to share the success of 2014 with you. If you have ques ons about how capital cred- its 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 ve toll-free at 1-800-256-6405, extension 9313.•
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