October 2006

Celebrate Your Co-op During National Co-op Month

Co-ops like Walton EMC have a special place in history, and October, National Co-op Month, is the perfect time to celebrate that history.

So what is a co-op? Cooperatives are businesses, but they have some unique qualities that set them apart. They are owned by their members—those who receive their services or buy their products. They are governed by a Board of Directors, which is elected by those members. They also return excess revenues to their members, what Walton EMC calls “Capital Credits.” This means that co-ops focus on providing quality service, not on driving profits.

Walton EMC is one of 42 electric co-ops in Georgia that provide electricity to nearly half of the state’s population. But electric co-ops are not the only co-ops. Co-ops exist in agriculture, healthcare, insurance and every other industry, providing services worldwide to 730 million members. In fact, several Fortune 500 companies, like ACE Hardware, are co-ops.

Co-ops generally form when the marketplace cannot provide needed services or goods at reasonable prices. Electric co-ops came about in this way—those in rural areas were in need of electricity, but investor-owned utilities could not provide it at an affordable price. Walton EMC brought power to its first members in 1936, and today serves over 120,000 accounts.

Some people still remember the days when Walton EMC brought power to them—these people gladly celebrate National Co-op Month every year. You may not remember those days; it’s very likely that you have never known life without power. But you still have reason to celebrate because you are a member-owner of a cooperative that prides itself on the service it provides, not the profit it makes. So join us this October in celebrating your co-op.

More information: National Cooperative Business Association

<back>