Margins allocated to patronage accounts C
ooperaƟ 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 re⇓ ect the best interests of those members. One of the seven guiding principles is Members’ Economic ParƟ cipaƟ on.
Economic parƟ cipaƟ on means simply that members contribute equitably to, and democraƟ cally control, the capital of their cooperaƟ ve. The cooperaƟ ve does not issue stock, and surpluses are margins, not pro⇒ ts.
Margins exceeding what is required to operate the cooperaƟ ve are allocated to member patronage accounts. The success of the cooperaƟ ve is shared with its members through an annual patronage allocaƟ on.
Your electric cooperaƟ ve trustees recently allocated 2015 margins totaling $4,374,846 to member patronage accounts. To the average member using 1,337 kilowaƩ -hours per month during 2015, the amount represents an annual allocaƟ on of $112.68.
To calculate the capital credits allocated to your member patronage account for 2015, simply mulƟ ply the allocaƟ on factor of $0.0070231028 by your total annual kilowaƩ -hours of service in 2015.
Current members of the cooperaƟ ve will be provided the amount of their allocaƟ on on their July 2016 electric bill in the top, right- hand corner. This amount will remain in your patronage capital account unƟ l a future patronage reƟ rement is made.
Your cooperaƟ ve management is honored to serve you and to have the opportunity to share the success of 2015 with you. If you have quesƟ ons about how capital credits 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
cooperaƟ ve toll-free at 1-800-256-6405, extension 9313.z
REC Energy Campers grateful for opportunity N
ortheast Oklahoma Electric CooperaƟ ve’s 2016 YouthPower Energy Camp Essay Contest winners said they had a blast on their trip and wish they could return next year. Sydnee MarƟ n of Bluejacket, Brannan Vail of Bluejacket and Nick Devore of Vinita returned home June 3 from represenƟ ng the cooperaƟ ve as delegates at Energy Camp. The trio were among 90 outstanding eighth-graders chosen from across the state to represent their local rural electric cooperaƟ ves during the four-day stay at Red Rock Canyon Camp, located just east of Hinton, Oklahoma.
While at camp, delegates aƩ ended sessions on energy, electrical safety and rural electric careers. They elected their own manager and board of directors and operated a pop and candy cooperaƟ ve. Other special acƟ viƟ es during the week included hands-on electrical demonstraƟ ons—such as pole climbing and bucket truck rides from linemen—a 13 low-element ropes course, swimming, an energy baƩ le tournament; and a trip to CelebraƟ on StaƟ on in Oklahoma City for arcade games, go-karts and pizza.
YouthPower Energy Camp is coordinated by the Oklahoma AssociaƟ on of Electric CooperaƟ ves.
Vail said he “learned how to be a good manager and how to work as a lineman.” He enjoyed “climbing the pole and riding the bucket trucks. I also had fun doing the acƟ viƟ es outside and building the magnets.”
He added: “Thank you for leƫ ng me go on this trip. I really enjoyed it. I made new friends and learned more about electricity, teamwork and lots of other new things.”
MarƟ n, meanwhile, said she came away from camp with a greater respect for electricity. “I learned how dangerous power lines really are,” she said. “I had never actually thought about that before.”
Campers (leŌ -right): Sydnee MarƟ n, Nick Devore, and Brannan Vail July 2016 - 5
She also said she enjoyed “the ropes course and the games. There were some really cool presentaƟ ons and I learned a lot.”
Added MarƟ n: “I want to thank you so much for this opportunity. I learned a lot about electricity and made life-long friends and memories. I am extremely thankful for this opportunity. It was truly an amazing experience. I can’t wait for everyone to come to this camp next year.”
Devore was also appreciaƟ ve of the experience. He said he enjoyed “learning about electrical safety, building leadership qualiƟ es and learning how people with diī erent personaliƟ es can work together. There were so many fun acƟ viƟ es. I now have some amazing new friends and the sponsors treated me like family.”
He added: “I had so much fun at camp. There were so many fun things that I cannot remember them all. It was the best week of my summer so far. Thank you for sending me.” z
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