Co-Ops Build Economic Power
This October we celebrate National Co-Op Month, highlighting the foundational role cooperatives, not just Union Rural Electric Cooperative (URE), play in our communities. I thought this would be a great opportunity to highlight the cooperative business model and why, in my opinion, it’s such a great method of providing power to our growing community.
In 1936, during the throes of the Great Depression, Congress passed Franklin D. Roosevelt’s New Deal Program. Part of that New Deal was the formation of the Rural Electrification Administration (REA). Its mandate? To electrify all of rural America, a daunting task that paved the way for electric cooperatives, which were formed and owned by those people and businesses who would benefit from electrification in the more sparsely populated rural portions of the country. These co-ops, originating during a stark economic period, exemplify resilience, showcasing the power of community-driven efforts.
At their core, all types of cooperatives are memberowned, member-driven enterprises with the key principles of Voluntary and Open Membership; Democratic Member Control; Members’ Economic Participation; Autonomy and Independence; Education, Training, and Information; Cooperation among Cooperatives; and Concern for Community. While producer cooperatives are owned by those who supply the business’s products or services, consumer cooperatives, like URE, are owned and governed by the consumers themselves. So, as a member of URE, you’re also an owner, and you have a say through your vote, about how the cooperative is run.
You really can’t talk about cooperatives without emphasizing that they are democratically governed and owned by their members. Each member has a vote on certain major cooperative issues as well as in choosing the individuals who oversee the cooperative on the Board of Trustees. They also benefit from the return of member credits — real money — as owners of the company. This is why you will often hear me say, “We’re your electric cooperative.”
Our present era isn’t without its challenges. Supply chain delays, soaring interest rates, biting inflation, and extremely low unemployment have combined to stress many industries. The result? Increased operational costs and workforce shortages for URE and most other businesses.
Yet, URE’s resolve is unyielding. We’ve leaned into adaptability, strategic foresight, and the strength of our network of other cooperatives. Through our commitments to education and innovation, our employees hone their skills and never rest on “the way we’ve always done it.” Our relationships with fellow cooperatives have been instrumental, ensuring a constant supply amidst external shortages. That cooperation among cooperatives also provides strategic insight as we learn from the experiences of our sister cooperatives rather than always learning the hard way. Simultaneously, financial prudence by our staff and Board has been key in navigating the tightrope of high interest rates and inflation.
The electric cooperative model, with its roots in one of America’s most challenging economic periods, continues to prove its mettle. Its values — of Integrity, Accountability, Innovation, and Commitment to Community — are not just ideals but tools of economic resilience and sustainability.
Be an active part of this proven and resilient cooperative movement. Connect with us on social media, and amplify your voice by emailing Voices for Cooperative Power to stay informed on critical issues and engage with lawmakers. Also, consider lending your financial support to our political action committee by emailing URE, or giving us a call at (937) 642-1826. Lastly, just remember that URE is your electric cooperative.