Every October since 1964 we celebrate National Co-op Month to highlight the value and service cooperatives bring to mostly rural areas.
Cooperatives have a rich history of business and service, going back to the first modern cooperative launched by the Rochdale Pioneers in England in 1844. National Co-op Month highlights the seven principles that guide REC and set all cooperatives apart from other business structures:
Open and Voluntary Membership
REC has an obligation to serve everyone in our service territory, no matter the type of customer. Service territories, established in the mid-1900s, continue to see demand grow with economic and population growth. Your cooperative serves 182,000 connections across 22 counties stretching from the Blue Ridge Mountains to the Chesapeake Bay. All customers are treated the same, as member-owners with equal and fair access to all the benefits and services REC offers.
Democratic Member Control
Your cooperative is governed by a memberelected board of directors made up of your neighbors and fellow member-owners. At this year’s Annual Meeting in August, more than 17,000 participated in the election of three board members, showing your engagement and the value you place in member control.
Member Economic Participation
As a member-owned, not-for-profit organization, REC invests its profit margins in system improvements that benefit members and also returns them to members in the form of capital credits. In June, REC’s Board of Directors voted to approve the return of $8.1 million back to members in the form of bill credits. This is a sizable increase over last year’s return. REC returns your investments in a first in, first out method. For example, this year REC returned the money to members who had funds in their 1989 Capital Credit account.
Autonomy and Independence
Your cooperative is an autonomous, selfhelp organization controlled by members. Any agreements with other organizations, including governments, or any raising of capital from external sources, will comply with existing regulations and ensure democratic control by members.
Education, Training and Information
Safety is our top priority at REC. We partner with state and local public safety organizations like fire departments and first responders to educate our member-owners and the public about electrical safety. In 2024, our employees attended 490 events across our service area, sharing information on safety, energy efficiency, sustainability and more. Find an event near you: myrec.coop/community-events.
Cooperation Among Cooperatives
Cooperatives work together locally and across the country. One of the most visible forms of this cooperation is mutual aid. It’s common for cooperatives to dispatch crews to help other co-ops restore power after major storms hundreds or even thousands of miles away. REC has been the recipient of this aid, and we have sent crews to help where needed. Another example is partnerships to provide additional needed services like rural broadband. By working together, cooperatives can control costs and better manage supply chain challenges.
Concern for Community
You’ll find REC member-owners and employees involved in each of our communities. We help in our churches and schools, organize fundraisers, volunteer as coaches, officials and umpires in local youth sports. You’ll find us supporting community projects and serving in volunteer fire and rescue departments. And your cooperative is focused on advancing our communities. This year, REC passed a major milestone in delivering high-speed broadband internet to 10,000 members. REC has partnered with Firefly Fiber Broadband, a whollyowned subsidiary of Central Virginia Electric Cooperative, to construct 2,650 miles of fiber network – the distance from Fredericksburg to San Diego, California – in five counties. It’s part of an effort to bring high-speed internet to unserved and underserved communities in our service region. Such progress is bridging the digital divide between rural areas and more populated localities, and cooperatives are at the forefront of this effort, just like in the original rural electrification push during the 1930s and ‘40s.
