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Membership meetings called to vote on consolidation Taking it to the Members:


Electric cooperatives are unique in that every member has a voice in how their cooperative is governed – it is called democratic member control and it is one of the seven cooperative princi- ples. This July and August, members of Canadian Valley and Central Rural Electric Cooperatives will have the opportunity to decide on the most signifi cant decisions either cooperative has ever had to make – whether or not to consolidate and form a single, larger cooperative named Cenergy Electric Cooperative Inc.


The boards of CVEC and CREC began discussions of shared services and a potential consolidation in 2013. In the time since, feasibility studies and fi nancial forecasts have been conducted that show a potential savings of more than $40 million over the next 10 years. Industry leaders from the Oklahoma Corporation Commission, CoBank, the National Rural Utilities Cooperative Finance Corporation and the Rural Utilities Service have shared thoughts


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on the consolidation with the consen- sus it will be a positive move for both cooperatives (see Consolidation Talk from Industry Leaders, page 2).


The next step in the process is a membership vote. A special member- ship meeting will be held for CREC members on Thursday, July 30, 2015, at the Payne County Expo Center in Stillwater, Oklahoma. CVEC members will vote at the cooperative’s annual meeting on Saturday, August 1 at the Heart of Oklahoma Exposition Center


in Shawnee, Oklahoma. In a format similar to past annual meetings, the CVEC and CREC membership will have the opportunity to assemble and cast their vote. Musical entertainment and a short presentation will precede the vote.


An offi cial announcement of the vote results will be made on Monday, August 3 via the cooperatives’ web- sites and social media. As with other meetings, a quorum of fi ve percent of the total number of members for


2. DEMOCRATIC MEMBER CONTROL SEVEN COOPERATIVE PRINCIPLES


1. VOLUNTARY AND OPEN MEMBERSHIP


3. MEMBERS’ ECONOMIC PARTICIPATION 4. AUTONOMY AND INDEPENDENCE 5. EDUCATION, TRAINING AND INFORMATION 6. COOPERATION AMONG COOPERATIVES 7. CONCERN FOR COMMUNITY


Cenergy|www.cenergy.coop


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