Annual Meeting

Member-owners have a direct voice in the way Tri-County Electric Membership Corporation operates.
Each year on the second Saturday of November, the cooperative holds a membership meeting. The meeting is held on the campus of Mount Olive College in Mount Olive.
The purpose of the meeting is to hear reports on the operation of the cooperative and to elect directors to the board.
The meeting also features entertainment, door prizes, refreshments and children's activities.
Registration is from 12:30 PM - 1:30 PM with the Business Meeting beginning at
1:30 PM.

Tri-County EMC Difference

Tri-County EMC is a private independent electric utility incorporated under the laws of the state of North Carolina. It was established to provide at-cost electric service to the consumers it serves. Tri-County is governed by a board of directors elected from the membership, which sets policies and procedures that are implemented by the cooperative's professional staff.

Capital Credits

Cooperatives are operated to provide at-cost electric service to the members. On the other hand, investor-owned utilities are operated to provide profit for the shareholders. A co-op's net margin above expenses and reserves is returned to the members who are the owners of the cooperative. These margins are referred to as Capital Credits. Tri-County EMC retires capital credits each year in fall. Members who have been receiving power for approximately 14 years will receive a check based on the amount of electricity purchased during that retirement year.

Co-op Principals

The "Rochdale Principles" that most member-owned cooperatives follow originated with the highly successful consumer cooperative which was formed in Rochdale England in 1844.

Open Membership: those who may reasonably use the cooperative's services ---within the practical limits imposed by existing facilities, geography, etc. --- must be permitted to join. None may be barred for such reasons as race religion, sex, nationally or economic situation.

Democratic Control: Effective means to control the organization rest in the hands of the members based on one member, one vote.

Limited Return on Investment: (This is for cooperatives that sell stocks or bonds to raise capital. Tri-County EMC does not sell stocks or bonds.) Dividends paid on invested dollars should provide a fair "rental" for the member's money, but a nominal ceiling on interest prevents speculation in co-op stock. Fundamentally, the cooperative exists to provide services to members, not to return dollars of profit to investors.

Return of Margins to Members: Dollars left over after all expenses would be regarded as profit for other organizations. In this case, however, they do not belong to the cooperative, but to the members, and must be allocated on the co-op books. Such dollars are returned to members, on a basis decided by the member-elected board, in proportion to each member's use of the service.

The International Cooperative Alliance believes more practices to be so essential to cooperative success that it has proclaimed them to be principals also.
They are:

Education, Training and Information: Cooperatives provide education and training for their members, elected representatives, managers and employees so they can contribute effectively to the development of their cooperatives. They inform the general public, particularly young people and opinion leaders about he nature and benefits of cooperation.

Cooperation Among Cooperatives: Cooperatives serve their members most effectively and strengthen the cooperative movement by working together through local, national, regional and international structures.

Concern for Community: While focusing on member needs, cooperatives work for the sustainable development of their communities through policies accepted by their members.

At A Glance

Number of meters served : 20,400
Number of employees: 50
Miles of line: 2,389
Average monthly kilowatt hours used : 1,452