Currents october2017

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Suwannee Valley

www.svec-coop.com

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(8 a.m. - 4:30 p.m. • Monday - Friday, Lobby Hours)

Business Office: 800-447-4509 (8 a.m. - 5 p.m. • Monday - Friday)

Power Outage Reporting (Day, Night, Weekends & Holidays)

800-752-0025 SERVING THE SUWANNEE VALLEY OWNED BY THOSE WE SERVE 11340 100th Street • Live Oak, FL 32060

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CEO’S COR NER

Calm in the Storm Michael S. McWaters Executive V.P./CEO

Like many of you, SVEC has seen its share of storms, but few have caused as much damage as Hurricane Irma did last month. While the cooperative always prepares for the worst, we usually find ourselves making repairs on relatively small portions of the electric system. That wasn’t the case with Irma. At one point, about 95 percent of our members were without power. This was a systemwide event that required a full week to repair damage to all areas. You can read more in this newsletter about all the planning and hard work that went into rebuilding our system. Responding to an outage on that scale requires incredible dedication from all parts of the cooperative, and I couldn’t be more proud of how our employees performed. I’m also thankful to work in an industry where fellow cooperatives are so willing to support each other. The first co-op to commit to helping SVEC restore power after the storm was Lake Region Electric Cooperative, all the way from Minnesota. That may seem like a long way to travel just to work overtime, but cooperative bonds run deep. The Lake Region CEO and I worked together at Cherokee Electric Cooperative in Alabama. When he learned SVEC could use a hand, he and his employees didn’t hesitate. I only hope one day we’ll have the opportunity to repay their kindness. Lastly, I want to take a moment to thank you, our members, for your patience. We know how important electric service is to your daily lives and the inconvenience created when it isn’t available. Many of you even shared some very kind words of encouragement on our Facebook page or with our linemen in the Continued on Page 4, see CEO’s CORNER

currents October 2017

Our guiding principles Cooperatives have a way of pulling together when their neighbors are in need. We’ve seen this firsthand over the last month, but some members may wonder why that is. First and foremost, it’s the right thing to do. But the truth is that serving our members and the community around us is built into the principles of every cooperative. October is National Cooperative Month, and co-ops serve an important role in our country. They provide electricity and other crucial services to areas where it might not be profitable for a big company to do so. Our mission isn’t to provide profits for shareholders; it’s to serve you. Following the seven cooperative principles gives every cooperative across the country a clear roadmap to do just that.

Cooperation among cooperatives — In order to serve their members most effectively and strengthen the cooperative movement overall, cooperatives work together through local, regional, national and international organizations. This was on display when cooperatives from the Panhandle and beyond pitched in to help SVEC restore power after Hurricane Irma. SVEC itself has sent crews to assist other cooperatives in need, most recently in the wake of Hurricane Sandy in New Jersey and Hurricane Matthew here in Florida. Voluntary and open membership — Membership in a cooperative is voluntary and open to anyone who wants to make use of its services. The only prerequisite is a willingness to accept the responsibilities that come with being part of the cooperative. Democratic member control — Cooperatives are democratic organizations controlled by the members. Each year, members are given opportunities to be active parts of the decision-making process and shape the policies of their cooperative.

Member economic participation — Each member contributes to the capital of the cooperative, which is used to fund day-to-day operations. That capital benefits the member in proportion to the amount of business they do with the cooperative.

Autonomy and Independence — Cooperatives may enter into agreements with other organizations for the benefit of their members and community. However, the members will always maintain control of the cooperative, and it will remain independent from outside organizations.

Financial education, training and information — The electric industry is constantly changing, so cooperatives provide education and training for members, elected representatives, managers and employees to ensure they have the information to contribute to the development of their cooperatives in a positive way.

Concern for community — Cooperatives work toward the sustainable development of their local communities by enacting policies and programs that are supported by their members. 

october is national cooperative month


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Currents october2017 by SVEC - Issuu