November 2016 SECO News

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November 2016

D U N C A N’S D I G E S T Most people would equate a company giving money back to their consumers with flying pigs. However, SECO Energy is different. As a not-for-profit electric cooperative owned by our members, pigs really do fly this time of year - putting money back in your pocket with another record Capital Credit retirement.

JIM DUNCAN, CEO

Here’s how it works: Your membership in SECO Energy builds ownership through your energy purchases. That ownership is defined through the annual process of allocating each member’s share of the co-op’s operating margins from the prior year. The annual amounts for each member who purchased electric service from SECO Energy during that year are referred to as Capital Credit allocations.

Capital Credits are the accumulation of all prior year’s revenue after the co-op’s operating costs and expenses have been paid. These credits are allocated on a pro-rata basis to each SECO Energy member’s account as “Capital Credits” and represent a portion of the member’s patronage with the cooperative in the prior fiscal year. During its September meeting, SECO’s Board of Trustees approved letting the proverbial pig fly with a record $5.1 million to be returned (retired) to members. Since SECO Energy’s inception, the co-op has retired more than $52.4 million to current and former members. This Capital Credits return is made possible by the sound financial stewardship of SECO’s Board, leadership team and employees. In a positive way, WHEN PIGS FLY we really do reap what we “sow” – no pun intended. Each current member receiving a Capital Credits retirement this year will see the amount on the November bill listed as a line item labeled Capital Credits. If you have questions about Capital Credits, visit www.secoenergy. com>YourCo-op>CapitalCredits.

BOARD OF TRUSTEES Ray F. Vick President District 5

Jerry D. Hatfield Vice President District 9

Robin R. Henion Secretary-Treasurer District 7

Scott D. Boyatt District 1

Dillard B. Boyatt District 2

Richard J. Belles District 3

Richard Dennison District 4

Earl Muffett District 6

Bill James District 8

Board of Trustees will meet on Monday, November 28, 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 December 19, 2016.

SECO 24/7 Job Hotline www.secoenergyjobs.com (855) 483-2673 SECO Outage Center www.secostormcenter.com (800) 732-6141

SECO Energy is an equal opportunity provider and employer. 866501


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November 2016 SECO News by SECO Energy - Issuu