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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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