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C A N A D I A N March 2016


V


ELECTRALITE The Importance


SUPPLEMENT TO OKLAHOMA LIVING Co-op in Sound of Member Engagement


Financial Condition No Rate Increase Needed at this Time


Boy,


does time fly when you are


The National Rural Electric Cooperative Association (NRECA), the pre- mier trade association representing approximately 900 electric cooperatives in 47 states, released a report entitled, “The Electric Cooperative Purpose - A Compass for the 21st Century.” The findings of the blue ribbon task force com- prised of a dozen co-op leaders from across the country were that an electric cooperative’s purpose is to, “Power communities and empower members to improve the quality of their lives.” Canadian Valley Electric Cooperative is a member of NRECA and firmly believes that you, our members, need to be at the heart of everything we do. We are proud of the fact that we are different from investor-owned utilities, where the primary purpose is to generate profit for their stockholders. Many of those stockholders don’t live in the communities served by the utility. While CVEC must of course generate enough revenue to cover our costs, profit is not our primary motive. Serving you and your neighbors is our number one prior- ity.


As the Electric Cooperative Purpose report noted, “Our story is about or- dinary people who banded together to improve the quality of life by providing electricity to our community when no one else would do it.” But that was 75 years ago. As we look to the future, we once again need your active participa- tion in determining the future of our co-op.


Cooperatives enjoy the support of people from all walks of life. We oper- ate in every type of business from agriculture, housing, finance, health care, technology, small business, food and many more. Co-ops can be found in the most rural to the most urban areas.


CVEC welcomes your input on what we can do to ensure we are meeting your needs.


One thing you can absolutely count on from your locally-owned electric co-op: we will never be moving to Mexico or China like you hear of so many other companies doing. We will always be local – right here and ready to serve you.


working on something you enjoy and you just keep finding out more and more good news. My first month at Canadian Valley Electric Cooperative has been both interesting and exciting for me. One of the most rewarding aspects of this job has been to see the commitment the CVEC Board and employees have to providing the very best and economi- cal service to the members. As with every interim job I have worked, there is so much to learn about the history of that particular coopera- tive. CVEC is certainly no exception with the many changes and chal- lenges that have occurred in the last 15 months. It is very obvious to me that the changes and challenges have brought out the best in the employee group and the Board of Directors. With this being said, I have the pleasure to pass on several very important updates to our members.


Bob Hood Interim


General Manager


1. Our mid-year 2015 audit has been completed by an outside audit- ing firm and all financial procedures and processes have been followed. No problems have been found. 2. An internal financial review by an outside consulting firm has been completed and the report has been that CVEC is in sound financial condition and has competent, educated and expe- rienced employees.


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