Capital Credits Put Members First
Article was added on Wednesday, June 01, 2011
Santee Electric Cooperative, Inc. is a not-for-profit
cooperative. That's very different from being non-profit.
Non-profit organizations do things for people in a relationship of
dependency. Electric cooperatives, in contrast, are self-help
As a not-for-profit, we also generate revenue, but only as much
as we need to operate. We don't set prices to make profits for
shareholders who don't live in the communities we serve―money we
receive as payment for services stays hard at work locally. And
because we're a cooperative, any profits, called margins, above and
beyond operating costs are returned to members in the form of
Capital Credits. On May 16, the 24,039 checks were mailed to SEC
members totaling nearly $1 million.
Our consumers aren't customers; they're members, and they each
own a part of the co-op. So it's only natural for us to run the
cooperative with their best interests in mind and return any unused
money to them, the owners.
This shows the value in co-op membership. SEC offers programs
like the Rural Electric Youth Tour and scholarships to enrich the
lives of young people in Florence, Clarendon, Georgetown and
Williamsburg counties. SEC also conducts safety programs for folks
of all ages, teaching everyone to use electricity with care. SEC
helps member manage energy use with free home energy audits and
energy advise monthly in South Carolina Living magazine. Being a
member of Santee Electric Co-op means something.
SEC exists only to provide safe, affordable, and reliable power,
and to support our local communities. SEC puts members first
because that's the way a co-op operates, plain and simple.
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