|
Annual Meeting 2013
Results
450 Members Attended
Meeting
1,374 votes prior
to the meeting
300 votes at
the meeting
Elected Board of Directors
John Harker, DDS
Ron Arnholt
Janet Anthony
Elected
Nominating Committee Members
Tom R. Finke
Shirley Kreutzjans
Randy Bergstedt
Speech given
by CEO Jim Turner and
Board President Curt Burbrink
THEME: The Cooperative Difference
CURT:
Good evening; thank
you for joining us tonight.
Let’s start with an
important question:
Why
are you here?
It’s a beautiful day, and we all
lead busy lives. I know many of
you are involved in farming or
sports with your kids or active in
your church.
Most of you are busy with
the grandkids.
My weekends are often split
between family, farming and church
events.
I
always have lots to do on the farm
in Jonesville so I know we all
have other places we could be
today. Don’t get me wrong—I’m glad
you’re here.
But I encourage you to think about
WHAT MOTIVATED YOU to drive here
after work or leave home and
attend this meeting. I hope it was
for more than the door prizes or
bill credit.
So I’ll ask again:
WHY are you HERE?
JIM:
Hopefully you are here
to support the cooperative
difference!
We are guided by these seven
cooperative principles:
Bartholomew County REMC believes
in open membership; democratic
member control; members’ economic
participation; independence;
education, training, and
information; cooperation with
other cooperatives; and—above
all—CONCERN for our COMMUNITY.
When our co-op was formed, the
biggest concern for the
communities we now serve was a
lack of power. We have electricity
now—in fact, it’s a given. I bet
you only think about it when a
storm, vehicle accident, or
wayward animal knocks the lights
off or when you pay your monthly
bill. We’ve met that need, and the
team at your REMC delivers safe,
reliable, and affordable
electricity to more than 9,600
members across Bartholomew, and
some of Jackson, Decatur and
Jennings counties.
So why are you here? I think
you’re here because you know we do
more than provide power. Our
PURPOSE—our mandate from members
like YOU—is crystal clear.
We’re here to POWER our
communities, provide value to the
membership and EMPOWER YOU, our
MEMBERS, to improve the quality of
your lives.
CURT:
Founding members of Bartholomew
County REMC started this
cooperative to meet a need in this
area.
Think about the impact
electricity made in rural areas 75
years ago. Nonprofit electric
cooperatives got their start in
Indiana when investor-owned
utilities chose not to extend
power to rural areas. Word went
out that anyone wanting electrical
service could join, and all
members would work cooperatively
and become the owners of the
co-op, just as members still are
today. Those beginnings set the
stage for the cooperative success
that continues today. Women lived
longer not having to work dusk to
dawn at backbreaking chores. Farm
production jumped. Things like
running water, lights, and stored
food were possible—and with those
leaps, our ancestors’ lives were
given new challenges and
opportunities.
A few of you may remember our
beginning from your younger
days—you know the power of
neighbors uniting with a common
purpose. But the vast majority of
you don’t remember when this area
rolled up its sleeves and worked
together to get the lights on.
That was the time when life was
hard and before cooperation
changed the landscape of our
community.
JIM:
Cooperatives aren’t like other
businesses in our community. There
is a cooperative difference.
You have a vote. Every member has
a vote.
And through that vote you
have a say in electing your
directors and in making key
decisions.
In the for-profit world,
customers foot the bill while
owners, investors and shareholders
make the decisions and pocket the
profits. In the electric
cooperative world, members share
in both decision making and
excess revenues. Regardless of how
large or small, all members have
equal democratic control.
We appreciate your
participation in the voting
process.
Many of you are here to
cast your vote and some of you may
have already voted using our
alternative voting methods.
We are proud to report that
XXXX members voted prior to the
meeting.
We are so happy to see the
involvement of our members in the
voting process.
The voting packet has
expanded the opportunity for all
members to have a say.
We are glad the members are
taking advantage of the
cooperative difference and casting
their vote.
CURT:
As a cooperative member you also
share in the benefits.
Investor-owned utilities
are for-profit, owned by
shareholders. Electric
cooperatives are nonprofit and
owned by you – the member.
Our goal is to deliver
affordable, quality service
without profit.
That’s the essence of
members’ economic participation:
service at cost, shared by
members. Once expenses are paid,
what remains—known as margins—is
returned to members. This return
is called capital credits.
We do our best to manage
and control costs.
This means more dollars
back to you, the members.
Due to the financial
strength of your cooperative, the
board is committed to returning
capital credits to you on a
regular basis.
In 2012, REMC paid back
$276,315 and I hope many of you
can still remember the bigger
check you received in 2011, which
equaled $3.2 million to our
current and past members.
JIM:
Also, in 2012, the three major
loans of the REMC were
re-structured to take advantage of
historically low interest rates.
These remaining loans are
for our Automated Meter Reading
system, the REMC office and the
capital credit payback of 2011.
REMC was also able to
reduce the building loan to 15
years with the same payment amount
as the 30 year loan.
This re-structuring of long
term debt saved the cooperative
$200,000 in fees and will save
REMC over
2 million dollars over the life of the loans.
That is real money that
will come back to the members in
the form of patronage capital.
Although, being financially stable
is important to running the
cooperative, providing reliable
power and quality service is our
number one goal.
That’s what we are here to
do.
We are currently in our
third year of a four year plan to
more aggressively clear trees and
vegetation from power lines and
replace bad poles.
This extra effort in
right-of-way vegetation
maintenance and pole replacement
has tremendously cut down on
blinks and extended outages for
our members.
To continue our system reliability
efforts, a study was conducted in
2012 to analyze the need for
upgrading our distribution system.
Currently, we have quite a bit of
old, very small copper wire that
has been in use for 75 years. The
board of directors have committed
to a five year work plan to
upgrade our system and change out
the lines identified in this study
that are in desperate need of
replacement. This will improve
service reliability for many years
to come.
CURT:
Education is also a principle on
which we were founded, and one
we’re committed to upholding
today.
Whether it’s in a classroom, a
ballroom such as this, a campsite,
at your kitchen table, or even on
Capitol Hill, education is a key
principle in the cooperative
business model.
Cooperatives strive to
educate members on how to get the
most from your energy dollar. We
teach members about the safe use
of electricity, and we give live
wire safety demonstrations to
school kids.
We even send local students
on fun and educational trips to
summer camps and to our nation’s
capital.
I can’t wait to see how
these young people will grow in
our community.
And because legislation often
includes measures that effect
electric cooperatives and our
members, our directors and our
employees work to educate elected
officials at all levels on
industry issues, so that our voice
is heard and understood.
Now, we would like to educate you
on the electric industry issues
that will impact our future.
We have a brief video to
watch informing you of our
industry concerns …
VIDEO…
JIM:
Your
cooperative shares your concern
about rising electric bills.
As a not-for-profit
cooperative, owned by the people
we serve, our priority is offering
solutions to this challenge.
We all need to do our part
to keep electricity affordable.
It’s hard to predict the future,
but one thing seems certain:
government regulations, fuel and
equipment costs and environmental
improvements to power plants are
going to INCREASE the cost of
doing business.
Now it is more important
than ever to become energy
efficient and use electricity
wisely.
Your cooperative offers programs
designed to help you reduce your
use of energy. These
include rebates on
energy-efficient heating and
cooling systems, incentives on
electric water heaters,
refrigerator recycling and a home
weatherization program.
Your investment in energy
efficiency now will pay big
dividends later.
In 2012, REMC
invested in a meter data
management system.
This technology infrastructure,
will allow us to bill members the
true cost of power at different
times during a 24 hour period.
That leads me to an opportunity
that we would like to offer to you
at this meeting tonight.
I know that we have talked
about time of use rates for a few
years now and the fact that
electricity costs different
amounts at different times of the
day or year.
The time has now come to
experience this new rate
structure.
We would like to offer to
the audience tonight an
opportunity to save on their
electric bill if they are willing
to participate.
REMC would like to offer to
50 people, the opportunity to be
billed at this new time of use
rate pilot program.
Do you think you can save
money by cutting back in peak
times?
On the screen, you can see
the rate parameters and peak
times.
During the months of June, July,
and August and December, January
and February there are peak times
where electricity use should be
reduced or avoided.
In turn you receive a
reduced rate during the off peak
times and off peak months, and the
opportunity to save on your
electric bill.
Do you think you would like
to try it?
Now is your risk free
chance!
From June 1st of
this year to June 1 of next year,
try this rate and receive a $50
gift card upfront.
In return, after the pilot,
we will want your thoughts on how
you were able to save money and
use less electricity during the
peak times.
Did I mention it was risk
free?
If after the 12-month period, we
find that you have spent more on
the Time-Of-Use Rate than on the
standard rate, we will refund the
difference and restore you to the
standard average rate if you
choose.
However, if you work to
avoid electric use during those
peak times, you will save money!
The rate is designed to be
neutral, meaning that if you did
not change your usage behavior at
all, the cost would be the same as
the average rate, however, it is a
great opportunity to save money if
you can avoid use in those peak
times.
Sign up after the meeting here at
the stage or give us a call and
let us know you are willing to
participate.
Remember it is open to
first 50 people… you will receive
a $50 gift card for participating
and it is risk free!
The more exciting part will be in
the fall of 2014 when this rate
will be offered to the full
membership as a voluntary option.
Look for more education
throughout the upcoming year on
Time of Use rates and planned
energy efficiency seminars that
you can attend.
Another exiting feature that we
would like to tell you about
tonight is the new mobile app from
REMC.
How many of you have an
iphone, android phone or own an
ipad?
{show of hands}
Now there is an even easier way to
manage your account.
Pay your bill using the
app, or see your usage, right at
your fingertips.
Search bcremc in your app
store and download free of charge.
It’s handy to have.
Download it and try it out
free of charge.
On the flip side, if you don’t
have a smart phone or ipad, you
can get the same information
through the member portal
available under “my account” on
our website.
Login and see your usage,
pay your bill, or manage your
account online.
Also, this is a great time to
remind you to “like us” on
facebook to receive up to date
information from REMC.
CURT:
United Way agencies, schools,
youth sports leagues, food
pantries—these are among hundreds
of groups REMC has helped over the
years. It’s all part of showing
concern and caring, and it’s all
done with member support.
Through our Operation
Roundup program, where members
allow us to round up their
electric bills to the next dollar,
we are a generous contributor to
the community.
It shows how pennies can
add up and truly boost the quality
of life for our community.
REMC is also a big
supporter of the United Way,
through the annual fish fry
fundraiser and employee and board
donations, over $10,000 was raised
for the United Way in 2012.
We live here. We work here.
And we give here, too.
JIM:
We’re not focused on making a
profit—at our core we exist to
meet community needs.
Working together, we are still
building strong communities,
bringing dreams to reality, and
giving youth a better future.
Cooperatives offer the perfect
tool for tackling tasks too big
for one person to handle alone,
all we need is a common purpose.
I think we’re starting to
understand why all of us are here
today.
Cooperatives offer the POWER to
change your community.
We rise out of community
needs. The not-for-profit,
consumer-owned cooperative
business model for years, has been
harnessed by farmers to get fair
prices or credit unions to provide
affordable financing. Your
ancestors used the cooperative
model to bring electricity and
hope to our area. What’s next?
That’s
up to YOU.
JIM:
Cooperative businesses like ours
are unique and different.
By
being here today, you realize we
are MORE than your power provider.
We’re proof that when our
community unites with a single
focus, we can move mountains—or at
least rise over them with miles of
line and hope.
You are here because you know our
PURPOSE—powering this community
and empowering YOU, our
MEMBERS—can make life better in
Indiana and Bartholomew County.
We’re
not waiting for someone else to
fix our region for us—we know we
can do ANYTHING
with the power of cooperation
and the cooperative difference.
THAT’S why we’re here today.
Thank you.
|
