Putting members first - Go ahead, ask us what makes cooperatives different!
Santee Electric Cooperative is a not-for-profit Locally focused 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 organizations. As a not-for-profit, we also generate revenue, but only as much as we need to operate. We don't set our rates 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.
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.
In the following list you will find names of members who have not claimed capital credits in the amount of $50 or more from the year 2011.
Each and every one of us who works here is an ambassador of Santee Electric Cooperative. If we're out in the community-at the grocery store or at gymnastics practice with your child- and a member poses tough questions, we will be happy to explain the value in co-op membership. We explain that we exist only to provide safe, affordable and reliable power, and to support our local communities. We put members first because that's the way a co-op operates, plain and simple and that's why this money is being returned to members.
We don't usually have to explain ourselves because many of our members know us personally. After all, most of us grew up here and all of us live here in the communities the co-op serves. Many members also know that Santee Electric employees, both current and retired, have put these principles into practice for decades.
Those values have not changed much over the co-op's 74-year history. What's different today is the challenges we face- uncertainty about our nation's energy future and rising costs. We use the best, proven new technologies to control costs as best we can. We are also committed to keeping you informed about policy changes that will impact your bill. Above all, we remain focused on you, our members.
We're looking out for you.
Floyd L. Keels
President and Chief Executive Officer
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Santee Electric Cooperative has unclaimed capital credits for the following persons. As required by state statute, this list identifies the names and last-known address of members whose unclaimed amount is $50 or more.
If your name appears on the list, please contact our office at (800) 922-1604. If you recognize a name and know where that person is, please have him/her contact our office. In order to claim capital credits for a deceased member who was married, the surviving spouse can claim the credits or if both partners of a membership have passed with the most recent within six (6) years, upon receipt of an official copy of the death certificate and a letter of administration issued by the Probate Court, the cooperative can reissue the unclaimed in settling the capital credit estate.