In the spirit of the season, I’m reminded of the countless blessings I enjoy as a father, grandfather, employee, co-op member,  American citizen and child of God — among many others. In my role as general manager, I’m thankful for the opportunity to serve Pioneer Electric’s members alongside a team of individuals who have your best interests at heart.  

Returning margins
I’m happy to report that Pioneer Electric remains in a solid financial position. A hallmark of that positive standing is the ability to return capital credits to our members. Capital credits are a unique benefit of cooperative membership. When you signed up for electric service with Pioneer Electric Cooperative, you became a member of a not-for-profit electric cooperative. That means you share in the ownership.  

Unlike investor-owned utilities, cooperatives don’t earn profits. Instead, any money left over after we pay our expenses is given back to our members as capital credits. Simply put, you spend money on electricity during the year. We use what’s necessary to pay our operating expenses. We also set aside some funds for improving and maintaining our system, including unexpected costs, such as storm recovery. At the end of the year, the remaining funds are allocated as capital credits to members.

This year, Pioneer Electric’s Board of Trustees has approved returning $649,760.95 in capital credits to members who had electric service in 2007. The payout cycle is among the shortest in the state. Since 2015, Pioneer Electric has returned $8 million to members.  

Your Board and employees work hard to manage our members’ resources. As we budget for the future, we intend to continue operating in a manner that allows the return of your member equity. All financial decisions are made to maintain the reliable service you deserve at a reasonable cost.

I wish you a happy and healthy holiday season, filled with all the joy that comes from spending time with loved ones. I pray for God’s richest blessings upon you all.