When you signed up as a member of Central Texas Electric Cooperative, you automatically became not only a member but an owner of this co-op. Co-ops use a business model that is different from most other utilities. They don’t sell stock on Wall Street, so there are no profit-seeking investors. Control of a co-op is by members only.
Each customer of a co-op is an equal partner in that utility. You may run for a seat on the board of directors if you’d like. You may vote for the candidates who do run and know that every candidate is also an interested rate paying member of the co-op.
Normally, CTEC would encourage you to attend the co-op’s annual meeting. However, in the face of the COVID-19 pandemic, CTEC’s Board of Directors has decided to hold the meeting without public attendance. Members are encouraged to send in their proxy voting ballots located on the dust cover of this month’s magazine. While a physical meeting will not be held, the co-op still needs to establish a quorum in order to officially elect the nominees for the board of directors. No other official business will be conducted; however, a video report will still be produced and can be viewed on the CTEC website at ctec.coop or on the co-ops Facebook page after August 20, 2020.
Membership in a co-op comes with privileges but it also comes with the responsibility to keep on top of co-op matters and cast your vote for the directors you think will do the best job. We need everyone’s participation, so mail in your proxy by the deadline and be entered into a drawing for a $50.00 bill credit.