What It Means To Be A Member
WHAT IT MEANS TO BE A MEMBER
Your electric cooperative is different from other utilities because it is a not-for-profit business. Cooperatives have their roots in their local communities, so they never sell stock. That way, consumer-members retail local control. Anyone who buys electricity from Franklin REC is a member; all members share ownership of the Cooperative and have a voice in it's operation.
A benefit of being a member is competitive energy costs. The rates and fees are cost based, which provides you with the lowest prices to deliver safe and affordable electricity. If Franklin REC collects more money than it needs to operate, it reinvests those margins into the system to keep your power on and keep our needs to borrow high-interest capital to a minimum. Members also have the benefit of discounted pricing on various products. These products include water heaters, electric grills, etc. Franklin REC also offers rebates to members to help with energy efficiency.
One of the greatest assets you have available as a cooperative member is personal service from someone you can trust, that's your electric cooperative.
Your voice matters.
Every membership have one vote in the election of the Cooperative's board of directors and in any other decisions brought up at the Cooperative's annual meeting. Directors of the Cooperative are also members, who serve without salary, except for a per diem and expenses to cover their out-of-pocket costs in serving the Cooperative. The board of directors hires a CEO/General Manager to take charge of operating the Cooperative for the benefit of its members. These directors represent you, our members.