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commentar y At Kiamichi Electric, The Credit Is All Yours BOARD OF TRUSTEES


Larry Culwell, President DISTRICT 7


David Ray, Vice President DISTRICT 4


Don Parr, Secretary-Treasurer DISTRICT 5


MEMBERS Russell Shaw


Richard Medlock Ron Pelanconi Mark Ichord


DISTRICT 1 DISTRICT 2 DISTRICT 3 DISTRICT 6


Jim Jackson Executive Vice President-CEO


Kiamichi Electric Cooperative (KEC) is committed to providing reliable and affordable electric service to members in Latimer, LeFlore, Pittsburg, Pushmataha and Atoka counties.


The people and businesses that purchase electricity from Kiamichi Electric are considered member-owners of the co-op. Each member—regardless of how much electricity they purchase – has an equal say in how the cooperative is operated.


To exercise their right, Kiamichi Electric members are encouraged to attend co-op meetings and vote in co-op elections.


Kiamichi Electric service territory is divided into seven districts. Members within each district meet every two years to choose a fellow member to represent their interests on the Kiamichi Electric board of trustees. KEC board members set policy and oversee cooperative business.


Through local leadership and control, Kiamichi Electric Cooperative members can rest assured their electric co-op remains focused on the needs of its members and its rural communities.


’m like most people when it comes to my work—sometimes I love it and other times I don’t. One of the most rewarding aspects is managing an organization that gives back— to its communities and its customers. For example, at their monthly meeting in July, Kiamichi Electric trustees approved the return of over $700,000 in patronage capital, or capital credits, to co- op members.


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The patronage capital system is unique to co-ops. Putting it simply, these credits are your share of Kiamichi Electric margins, or whatever is left over after all of our bills are paid. Other utilities have shareholders and operate solely to make a profit for their investors. Electric co-ops are nonprofit and operate on an at-cost basis.


That said, we still need a source of capital in order to build, maintain and expand our system and cover emergency expenses. Instead of returning all the leftover funds to members every year, co-ops retain what is necessary to ensure their strong financial standing and reduce the need to borrow from outside lenders.


When your board determines that Kiamichi Electric’s financial position is solid, they may approve the retirement, or refund, of a portion of this capital to members. Each member’s allocation is based on how much electricity they purchased during the year. The more electricity a member uses, the more capital that member is putting into the co-op, and the greater their credit will be.


operation roundup


Monthly Financial Report YEAR TO DATE COLLECTIONS:


YEAR TO DATE DISBURSEMENTS: TOTAL COLLECTED SINCE INCEPTION:


TOTAL DISBURSEMENTS SINCE INCEPTION: 2 | september-october 2015 | Light Post


$ 58,531.83 $ 42,778.39


$ 1,254,079.65 $ 1,168,831.06


Operation Roundup is a voluntary bill roundup program that benefits southeast Oklahoma communities, organizations and needy families. Applications for funds are available at Kiamichi Electric, local social services , or online at www.kiamichielectric.org.


This year, members from 1992 received their patronage capital as a credit on their August or September electric bills. Some received a check in the mail.


The refund amount reflects your contribution of capital to, and ownership of Kiamichi Electric during those years. Sure, it seems like a long time ago, but those funds helped your co-op maintain strong and consistent equity levels despite major sways in power prices and massive system-wide damages caused by ice storms and other unexpected events.


By Jim Jackson CHIEF EXECUTIVE OFFICER


Since 1969, Kiamichi Electric Cooperative has retired millions of dollars in capital credits to our members. That’s quite an achievement, and something we should all feel proud of.


Do you have ideas or suggestions for your co-op? We want to hear from you. Send email to support@


kiamichielectric.org.


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