Owned By Those It Serves
Membership entitles you to participate in the management of your cooperative through your elected representatives on the Board of Directors and at the annual meeting.
The policies which govern the operation of your cooperative are determined by the nine member board-of-directors, who are elected by the membership. The board employs a manager, who hires the employees needed to carry on the day-to-day operations of the cooperative. The board meets monthly to review the condition of the cooperative, and to make the many decisions necessary for good management.
Although the cooperative is a not-for-profit organization, rates, budgets and projections are calculated to include a small profit. At the end of the business year, the actual profit, or “margin”, is calculated. The margin is then allocated to the members in the form of capital credits. The amount of a member’s capital credits is determined by the amount of electricity used by that individual.
Between the time that capital credits are allocated and the time they are paid in cash, the money is used by the cooperative to maintain and improve the electric system to ensure that service is the best possible.
For more information e-mail Woodruff Electric.