COOPERATIVE PRINCIPLES - Dunn Energy Cooperative · cooperative principles, we at Dunn Energy Cooperative are ensuring that our members receive the full benefit of coopera-tive membership.

to exactly collect the amount needed to pay expenses. Our bankers require a certain amount of extra revenue too. That helps show them that the co-op is financially healthy. These excess revenues are called margins. These margins are the money that members contribute to the co-op. They are your investment in your business. The co-op does not pay interest on this money. That would be like paying yourself interest on money you tuck away in a desk drawer for a special purchase. (7911001) Just as a business owner's investment is used to build their business, margins are used by Dunn Energy to build electric lines. The margins are also used to purchase the equipment necessary to maintain the electric lines. The co-op holds onto this money for a period of years. Then the money is returned to our members in the form of capital credits checks. Co-ops are not-for-profit businesses. While revenue is col-lected in excess of expenses every year, the excess is always returned to the owners. That’s you, the co-op member! This month, we will be returning 95 percent of margins generated in 1995, as well as a portion of margins generated in the years 2005 through 2013. The money will go back to members who received electric service from the co-op in those years. Over the years, Dunn Energy Cooperative has returned almost $19,000,000 in capital credits to our members. Co-ops are a unique form of business, created by members and owned by members. And cooperatives provide a service for the benefit of their members. By following the seven cooperative principles, we at Dunn Energy Cooperative are ensuring that our members receive the full benefit of coopera-tive membership.

October is National Cooperative Month. On Saturday, October 26, Dunn Energy Cooperative, along with a number of

other cooperatives in the area, will be celebrating co-op month with a breakfast for our members. The breakfast will be held at our office from 8 to 11 a.m. Cooperatives operate and serve their members by following the seven cooperative principles. The third cooperative prin-ciple is Members’ Economic Participation. This cooperative principle reads as follows:

Members contribute equitably to, and democratically control, the capital of their cooperative. At least part of that capital is usually the common property of the coop-erative. They usually receive limited compensation, if any, on capital subscribed as a condition of membership. Members allocate surpluses for any or all of the following purposes: developing the cooperative, possibly by setting up reserves, part of which at least would be indivisible; benefiting members in proportion to their transactions with the cooperative; and supporting other activities approved by the membership.

Okay, so what does that actually mean? Unlike other businesses, consumers of cooperative services are also owners of their co-op. You are not just a member; you are an owner. Business owners invest money in their business to pay for bills and help it run. So do co-op member/owners. Each year the co-op generates revenues in excess of the cost of providing electric service. It is impossible to set rates

15www.dunnenergy.com October 2019

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COOPERATIVE PRINCIPLESBy James Hathaway, General Manager

Wisconsin Energy Cooperative News16

There are all sorts of Cooperative Month celebrations in our area, from our very own Cooperative Breakfast on October 26, to other local events being held by West Wisconsin Telcom, WESTconsin Credit Union, RCU, and the Menomonie Food Co-op. This makes October a great month to be a cooperative member! We have a little extra to be celebrating this Co-op Month, here at Dunn Energy. Celebrating in a “happy-trails, we’re excited for your next adventure” sort of way, that is. After 30 years of dedicated service to the members of Dunn Energy Cooperative, CEO Jim Hathaway gets to enjoy a much-deserved retirement. “I’m glad to have had the opportunities the cooperative community has provided me, both personally and profession-ally,” said Hathaway. “It’s been a privilege to serve and meet the members of the cooperative over the last 30 years.” Shortly after the first of the year, Jim will be heading out on adventures unknown, traveling and spending time with his family. How Do Capital Credits Work?

Source: National Rural Utilities Cooperative Finance Corporation, Updated April 2015

Your co-op tracks how much electricity you buy and how much money you pay for it

throughout the year.

At the end of the year, your co-op

completes �nancial matters and determines

whether there are excess revenues, called margins.

Your co-op noti�es you of

how and when you’ll receive your

capital credits retirements.

1

2

4

5

When the co-op’s �nancial condition

permits, your board of directors/trustees

decides to retire, or pay, the capital credits. 3

Your co-op allocates the margins to members as

capital credits based upon their use of electricity

during the year.

If you want to stop in and visit with him before he heads out, swing on in to the Cooperative Breakfast on October 26. He’ll be out parking cars like he’s done for the last several years. (9476003) With Jim’s departure brings other changes to staffing at the cooperative. Longtime employee and Manager of Administra-tive and Member Services Jesse Singerhouse was promoted by the board of directors to the position of CEO/general manager. Jesse has been with Dunn Energy for 20 years. If you’ve ever had questions about your bill, load management, what heating source is right for you, or just about anything else you’ve probably talked to him. He brings an extensive amount of experience and knowledge to the position. “I’m grateful to the board of directors for asking me to serve as the next general manager/CEO of Dunn Energy Co-operative,” remarked Singerhouse. “Jim has done a tremen-dous job for the members of the cooperative and I’m looking forward to working with the board, employees, and members of this cooperative in the years to come.” Jim and Jesse will be working together over the next few months to ensure a smooth transition for members and employees. It’s a great time to be a member of the cooperative. Stop on out and celebrate with us!

CELEBRATING CO-OP MONTH…AND A LONG COOPERTIVE CAREER!

How do capital credits work?

Because electric co-ops operate at cost, any excess revenues, called margins, are returned to members in the form of capital credits.

After 30 years of dedicated service to members of Dunn Energy Cooperative, CEO Jim Hathway gets to enjoy a much-deserved retirement.

Electric co-ops have retired

$19 billionto members

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17www.dunnenergy.com October 2019

Cooperative FREE Breakfast23rd Annual

Saturday, October 26 • 8 - 11 AMBreakfast Location: Dunn Energy Cooperative • N5725 600th Street, Menomonie, WI

Join us for Dad’s Belgian Waffles

October is Cooperative month!

by bringing non-perishable or cash donations to the breakfast.

Cooperative Displays | Kid’s Activities | Face Painting

SILVER SPONSOR | Menomonie Market Food Co-op

Yes we can!FOOD DRIVE

We CAN make a difference!

Please support the

Stepping Stones Food Pantryof Dunn County

C O O P E R A T I V ECreative Solutions. Exceptional Value.

Come and celebrate the power of cooperatives!

James Hathaway, ManagerN5725 600th St., P.O. Box 220, Menomonie, WI 54751

715-232-6240www.dunnenergy.com

Wisconsin Energy Cooperative News18

Jolene Neisius, Editor

The incentive to find your account number has increased! If you find your account number hidden in the pages of this magazine and you call and tell us before the next issue is mailed, we’ll put a $50 credit on your electric bill. Happy hunting! Last month’s winners were Tim Wahl and Peggy Olson.

In 2019, Dunn Energy launched the Electric$ense Online Store, which offers efficient lighting and water conservation products. All products in the Online Store qualify for the cooperative’s Energy Sense rebate program and already have the incentive discount taken off the original price. But there are more discounts in store for members. In recognition of October as National Co-op Month, special

pricing will be offered to Dunn Energy members from October 1–31, 2019, on select lighting products.

We encourage members to take advantage of the Electric$ense National Co-op Month specials. The Online Store is easy to use and will

allow our members to spend less time shopping and more time outside to enjoy our beautiful fall weather. Orders of $25 or more will ship for free

to your home, so you can easily take care of all your lighting needs with just a few clicks. The Electric$ense Online Store was designed with member convenience in mind. By offering qualifying, energy-efficient items, the member and cooperative save time by not having to fill out and process separate rebate forms.

The new discounts only apply to certain lighting products. After the October promotion, a new set of pricing will go into effect on the select lighting

products. While the new prices will be slightly more than the Co-op Month promotion, they will be less than the prices originally established when the Online Store was launched. The Online Store also offers efficient water conservation items, such as low-flow shower heads and faucets. Members can browse the Electric$ense store at https://electricsense.amcgmarketplace.com. To purchase a product, a member must create an account and identify as a Dunn Energy member; the store accepts VISA, MasterCard, American Express, Discover, and PayPal.

ELECTRIC$ENSE ONLINE STORE

REDUCES LIGHTING

PRICES

Deeper discounts in October for National Co-op Month

Hidden Account Numbers