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SECONEWS Money doesn’t grow on trees and pigs don’t fly, but you can take your Capital Credits return to the bank. This month, SECO Energy is making you and your wallet a little happier. During its October meeting, SECO’s Board of Trustees approved a Capital Credits return (retirement) of $3.5 million to current and former members. Look for your 2019 Capital Credits retirement on your November bill just in time for the holiday season. As a member of a not-for-profit electric utility, you along with your fellow 200,000+ SECO members own a portion of the cooperative’s equity. Your membership brings home the bacon through energy purchases that build patronage capital. Ownership is defined through the annual process of allocating each member’s share of the co-op’s margins from the prior year. The annual amounts for each member who purchases electric service during the year are referred to as Capital Credit allocations.
150702 Capital Credits are the accumulation of all prior year’s revenue after the co-op’s operating costs and expenses are paid. These credits are allocated on a pro-rata basis to each SECO Energy member’s account as Capital Credits. Annually, SECO examines the financial position of the cooperative and makes a recommendation to the Board of Trustees on the “retirement” of Capital Credits. This year’s $3.5 million retirement
means that a portion of the cooperative’s equity is being returned to current and former members. That number is a lower retirement than in years past, as the cost of delivering power to new members and maintaining our existing infrastructure is rising faster than our revenue. Each current member who receives a 2019 Capital Credits retirement will see the retirement amount on the November billing statement listed as a line item labeled “Capital Credits Ret.” Commercial members with retirements over $1,000 will receive a check. If you move out of SECO’s service area, keep your mailing address updated so we can send future Capital Credit retirements your way.
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SECO Energy was founded as Sumter Electric Cooperative, Inc. in 1938 and has retired more than $66.8 million to current and former members as a tangible benefit of the cooperative business model. Sincerely,
INSIDE THIS ISSUE • Toys For Tots • Surge MitiGator™ • Fall For Energy Efficiency • Florida Fauna & Flora NOVEMBER 2019 | SECO NEWS
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TOYS FOR TOTS MEMBER DROP-OFF LOCATIONS SECO Energy and its ever-generous employees support the Marine Toys for Tots drives in the communities we serve. SECO’s five Member Service Centers in Eustis, Groveland, Inverness, Ocala and Sumterville are available as public dropoff locations for Toys for Tots. This year, members can partner with SECO Energy to bring a smile to a child on Christmas day. Visit a Member Service Center to drop off new, unwrapped toys for the Toys for Tots donation box. Toys are collected by local Toys for Tots volunteers in each county and donated locally. Toys for Tots is a top-rated charity. Since 1947, its mission is to deliver toys, books and other gifts to less fortunate children. Over 97% of cash donations directly support that mission. The remaining 3% is spent on fundraising expenses. No donation dollars are spent on salaries or
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other manpower. Toys for Tots volunteers collect and deliver the donations received. You can donate to Toys for Tots with confidence that your donation will go straight into the hands of a local child. In 2018, SECO employees donated more than a hundred bicycles and tricycles, as well as hundreds of toys to make a difference in the lives of local children who live in the communities we serve. To learn more about the Marine Toys for Tots Program, visit www.toysfortots.org. Find a SECO Energy Member Service Center at www.SECOEnergy.com > Your Co-op > Member Service Centers.
Protect your home from power surges by investing in SECO Energy’s Surge MitiGator™. Power surges are sudden, powerful increases in voltage that can damage or destroy your household appliances and electronics. Surges are caused by lightning, trees, small animals, birds and vehicle accidents involving energized facilities. SECO’s Surge MitiGator™ is “Made in the USA” and is built to chomp down on surges and spikes. The MitiGator™ is available for just a few cents per day at a lease rate of $5.95 per month, plus tax, conveniently added to your monthly bill. Installation for standard residential 200-amp service is $25. For residential services greater than 200amps installation is $100.
508012 You can opt to purchase the product for $349 to $399 plus tax. The installation fee is waived when purchasing the MitiGator™. The Surge MitiGator™ is an arrestor that is installed behind the meter. Your protection against surges and spikes begins at the meter but SECO encourages members to plug all sensitive electronics into point-ofuse surge protection devices. Point-of-use devices can be purchased at your local hardware or big-box store. Visit SECOEnergy.com > Energy Solutions > Surge MitiGator™ today to enroll and to learn more about how you can protect your home’s appliances from surges.
WINNER, WINNER! We have chosen the winner of the 8,000-watt Briggs Stratton generator from our September SECO News. Visit our website at SECOEnergy.com and view the homepage banner to find out who won!
Don’t forget to look for the last six digits of your account number in this month’s SECO News. You can email us at customerservice@secoenergy.com or call if your number appears. Six winners will be drawn at random from all submissions. Winners receive a $25 gift card.
NOVEMBER 2019 | SECO NEWS
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OSCEOLA WILD TURKEY
FALL FOR ENERGY EFFICIENCY According to the Old Farmer’s Almanac, November and December temperatures will average in the mid-60s. Winter is forecast to be mild with the coldest temperatures arriving in February. A well-functioning HVAC runs more efficiently and helps you lower your energy use when cooling or heating your home.
fauna & flora
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he Osceola or Florida wild turkey is one of the most popular game animals in the world. In 1890, ornithologist W.E.D. Scott named this species of wild turkey after Seminole leader Chief Osceola. Osceola wild turkeys are found only on the Florida peninsula and are much smaller than farm-raised Thanksgiving birds. Adult males are known as “gobblers” or “toms,” weigh up to 25 pounds and reach an average height of 3.5 feet. Adult females are known as “hens,” weigh between 8 and 14 pounds and reach the same average height as the males. Hens lay an average of 8 to 12 eggs in mid-April that incubate for 26 to 28 days. This turkey is very vocal. You can hear its signature yelps, gobbles and clucks up to a mile away. Its sounds serve as an attractant to both males and females. Gobblers “strut” by puffing out their feathers, spreading their tails and dragging their wings. Males typically have a beard or tuft of hair growing from the center of their breast; however, 10 to 20 percent of female turkeys have one as well, but it’s usually shorter.
Inspecting your HVAC system is not a doit-yourself job. Hire an experienced, licensed HVAC technician to test the unit’s voltage and electrical components. The tech should also lubricate moving parts, check the filter, measure refrigerant pressure, check electrical connections and test the safety controls. Ensure the tech inspects the drain system, tests the thermostat settings, airflow and more if your unit is problematic. Buyer beware – do your homework, obtain three quotes for the inspection service, read Google reviews and Better Business Bureau reviews. Most important if the price sounds too good to be true it probably is. Change your air filter according to the HVAC manufacturer’s schedule or once a month. A clean air filter is the first step in helping your HVAC run efficiently. Don’t leave energy efficiency out in the cold. Schedule an HVAC inspection with a qualified technician before the temperature drops. Preventative maintenance on your system will allow you to enjoy the winter weather from the comfort of your home and save you from the shock of a high repair bill.
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FUN TURKEY FACT: Juvenile male turkeys are known as “jakes” and all young turkeys are known as “poults.”
BOARD OF TRUSTEES & TR U STE E M E E TI N G DATE S
Jerry D. Hatfield Gerald B. Anderson
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President District 3 District 9
Richard Dennison Ray Vick
The Board of Trustees will meet on Monday, November 18, 2019, at 2:30 p.m. in the Corporate Offices at 330 South US HWY 301 in Sumterville. A Trustees’ meeting will also be held on Monday, December 16, 2019.
Vice President District 5 District 4
Bill James Earl Muffett Secretary-Treasurer District 6 District 8
Scott D. Boyatt Joseph Kusiak 24/7 Job Hotline: Report an Outage: secoenergyjobs.com stormcenter.secoenergy.com
District 1 District 7
Dillard B. Boyatt District 2
SECO Energy.com SECO Energy is an equal opportunity provider and employer.