Why Cooperative Membership Matters

Transcription

1 The ConneCTion Why Cooperative Membership Matters We are often asked why we call those who purchase electricity from Consumers Energy members and not customers. The answer is simple. Just like some people are members of Rotary, Lions, or Kiwanis clubs, you are a member of Consumers Energy. Service clubs have a common mission together the club accomplishes more than an individual can. The same holds true for other types of clubs; they pool resources and work together to help each member succeed. Membership at Consumers Energy offers many of the same benefits as clubs do, but with a big extra. You and the rest of our 6,500 members own the co-op! That means we answer to you, not investors who have never walked our streets or spent time in our schools. This structure harkens back to our origins. Gail Hull Consumers Energy was organized by farmers and rural residents from this area in At that time, investor-owned utilities said there wasn t enough profit to be made to warrant the expense of building powerlines into the countryside - so electric cooperatives began forming to meet the need. How is Consumers Energy different from investor-owned utilities? Because Consumers Energy is a cooperative, owned by you, its members, it does not earn profits. Instead, any revenues over and above the cost of doing business are considered margins. These margins represent an interest free loan of operating capital by the membership to the cooperative. This capital allows Consumers Energy to finance operations and to a certain extent, construction, with the intent that this capital will be repaid to you in later years. These margins are called patronage capital credits. What s the difference between allocated and retired patronage capital credits? Allocated patronage capital credits appear as an entry on the permanent financial records of the co-op and reflect your equity or ownership in Consumers Energy. When patronage capital credits are retired, a credit is applied to your electric billing statement or a check is issued to you, and your equity in the co-op is reduced. Can I use the patronage capital credits I have allocated to pay my electric bill? No. Allocated patronage capital credits may not be used to pay current bills. Your electric bill is due now, whereas you may not be entitled to be paid your patronage capital credits until the Board of Directors approves a retirement. Full payout of your patronage capital credits may take many years. continued on page 8-B u December 2016 We re Looking Out For You! Dates To Remember: Dec. 1 Read Meters Dec. 3 Bills Due Dec. 5 Automatic Payments Deducted Dec. 9 Mail Bills Dec. 23 Office Closed for Christmas Holiday Dec. 26 Office Closed for Christmas Holiday Dec. 27 Automatic Payments Deducted Dec. 30 Read Meters Office Closed at Noon Jan. 2 Jan. 3 for New Year s Holiday Office Closed for New Year s Holiday Bills Due December 2016 A supplement to Living with Energy in Iowa 8-A

2 Why Cooperative Membership Matters (continued) When do I get paid my patronage capital credits? The Board of Directors must authorize a retirement before you receive a payment. When considering a retirement, the board analyzes the financial health of the co-op and will authorize a retirement if the financial condition of the co-op permits. Consumers Energy believes the allocation and retirement of patronage capital credits is one of the ways co-op membership matters. It is one of the cooperative differences that make serving you our members and owners a pleasure. Your patronage capital credit refund will be arriving soon, either as a credited line item on your electric billing statement or as a check in the mail. If you have any questions about the patronage capital credit retirement process, please contact the Member Services Department at Gail Hull Member Services Manager Consumers Energy crews hung lights on the trees at the Marshall County Courthouse for the Holiday Stroll and the holiday season. 8-B A supplement to Living with Energy in Iowa December 2016

3 Time to File Your 2016 Incentives As 2016 winds down, it s time to get incentive forms filed for qualifying items purchased this year. Below are important reminders before filing your incentive forms with the co-op. Remember that all requirements must be met in order to receive the incentives offered. All incentive forms are due within six months of purchase date. Fill the forms out completely, and sign in all places indicated. Attach copies of receipts for purchases. In order to ensure prompt payment of the incentives, it is recommended to turn paperwork in as soon as possible in case of delays or missing information. There are few changes planned for Consumers Energy s 2017 Incentive Program. Please call one of the co-op s energy advisors, C.D. Kendall or Jeff Lanning, for more information. C.D. and Jeff can let you know what those changes are and help make energy efficient decisions for your home or business. For more information on Consumers Energy s Incentive Program, visit and access the Incentives button on the home page or call Space Heaters: Yes or No? Space heaters account for 1/3 of all heating fires, and four out of five fire deaths are caused by space heaters. Tips to use space heaters safely this winter season: Read and follow all instructions. Make sure cords are not frayed, brittle, or cracked. Place them out of high-traffic areas and on a level, hard floor surface. Never leave them on unattended or after going to bed. Keep space heaters at least three feet from blankets, clothing, paper, and other flammables. Keep in mind that depending on how space heaters are used, members can actually see their total electric costs go up. For more information, contact Consumers Energy at December 2016 A supplement to Living with Energy in Iowa 8-C

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7 1. What do you call an old snowman 2. When does Christmas come before Thanksgiving? 3. What does December have that no other month does? 4. What Christmas carol is a favorite of parents? 5. Where do snowmen go to dance? 6. What kind of candle burns longer, a red candle or a green candle? Help Frosty get through the maze and to his gift! ball elf snow bell gift star candy santa toy deer sled tree ANSWERS: 1. Water 2. In the Dictionary 3. The letter D 4. Silent Night 5. A snow ball 6. Neither, candles always burn shorter! December 2016 A supplement to Living with Energy in Iowa 8-G

8 Office Hours 7:30 am 4:30 pm Monday through Friday Contact Us nd Street Marshalltown, Iowa Phone: Toll-Free: Fax: Directors: Bill Hobson, President Mark Wampler, Vice President Pat VonAhnen, Secretary-Treasurer Allan Armbrecht, Asst. Secretary-Treasurer Terry Benskin Jeff Edler Arden Greiner Bob Meimann John Ripley Consumers Energy employee Hunter Malcom received his Journeyman Lineman certification in September Journeyman Lineman status is achieved once an electric utility employee has completed his apprenticeship training and learned the trade for working on power lines. Consumers Energy employees helped Hunter celebrate with an ice cream social following the employee safety meeting in October. Congratulations, Hunter! General Manager Jim Kidd & Journeyman Lineman Hunter Malcom. If you have an idea for a topic for The Connection, please contact Kippen Glenney at or kglenney@consumersenergy.coop. 8-H A supplement to Living with Energy in Iowa December 2016