If someone asked what an electric cooperative does for a community, you’d probably respond with the obvious: they deliver power to homes, farms and businesses. While that is true, co-ops generate far more than electricity for the communities they serve. October is National Co-op Month — the perfect time to recognize how co-ops stand out from other types of businesses.
Providing a reliable, affordable source of electricity has transformed co-op communities into what they are today. When investor-owned utilities refused to extend their power lines to small communities and rural areas, electric co-ops stepped up to fulfill the need.
Co-ops have a significant economic impact on the places they call home. That includes supporting nearly 623,000 jobs that deliver $51 billion in annual compensation — and those employees spend much of that at the local supermarket, diner and gas station, supporting jobs there.
In most of the counties and communities they serve, electric co-ops play leadership roles in championing local economic health by bringing new employers to the area and helping established businesses expand. In addition to working directly with growing companies, they invest in community assets like broadband networks and incubators to help local start-ups succeed.
Community members also benefit directly from their co-op’s prudent financial management. As not-for-profit utilities, co-ops return any money that’s left over after covering the cost of operations, maintenance and improvements to members through what are known as capital credits. When the co-op’s finances are strong, the directors may choose to retire some of those credits by converting members’ shares into refund checks or bill credits.
Given that Concern for Community is one of the seven cooperative principles, co-ops seek a variety of ways to support organizations and events in the communities they serve. Whether it’s presenting electrical safety demonstrations in schools, helping to organize fairs and festivals or promoting food drives for local pantries, co-ops are involved in extensive outreach.
One of the biggest community priorities for many co-ops involves helping young people develop leadership skills. Perhaps the most familiar and long-running youth-focused effort is the annual Youth Tour, which gives teens from co-op communities throughout America a firsthand look at our nation’s capital, and a chance to learn about the political process from the people who make and influence our laws and better understand the impact they themselves can have as citizens.
So yes, co-ops do light up communities by delivering safe and reliable electricity to residents and businesses, but their real power rests in the many other ways they deliver the other kinds of energy communities really need to thrive.
