Kentucky’s 27 electric cooperatives do business the cooperative way and they are celebrating that fact during the
entire month of October as all cooperative businesses across the country celebrate Cooperative Month.
About 120 million Americans each day are solving problems and enjoying a better life because of cooperative businesses. Whether lives are improved through farming, banking, healthcare, housing, grocery retailing, telephone and electric services, cooperative businesses are about the most democratic way to do business
But, exactly - what is
a cooperative?
Cooperatives are member-owned and democratically controlled enterprises, created and used by their member-owners to provide goods and services. A co-op operates for the benefit of its member-owners. Across America, 120 million people are finding solutions to community needs by forming cooperative businesses. This means cost savings, less risk and more choices for America's consumers and producers.
Some
compelling statistics
Electric cooperatives operate nearly half of the electric distribution lines in the United States and provide electricity for 34 million people
- that's more than one in ten Americans. About thirty percent of farmers' products in the U.S. are marketed through cooperatives. More than 20 cooperatives have annual sales in excess of $1 billion, including such well known names as Land O' Lakes, Inc., Ocean Spray and ACE Hardware. Credit unions have over 76 million members and assets in excess of $100 billion. There are approximately one million cooperative housing units serving households with a range of income levels and housing needs. More than 50 million Americans are served by insurance companies owned by or closely affiliated with cooperatives. Food cooperatives have been innovators in the marketplace in the areas of unit pricing, consumer protection and nutritional labeling. Retailer-owned food and hardware cooperatives make it possible for hundreds of independent store owners to successfully compete with large chains.
Cooperatives yield tremendous economic
impact
Cooperatives yield tremendous economic impact. Today, there are more than 48,000 cooperatives in the United States generating in excess of $500 billion in economic activity. Revenue generated by cooperatives tends to stay in the community as it is distributed to local members rather than removed shareholders. Cooperatives exist not to generate a profit for themselves or outside investors, as do other businesses, but rather to provide goods and services at the lowest possible cost.
Cooperatives epitomize democratic and moral
principles
Cooperatives are owned and controlled by the people who use them. Member control is generally on a one member, one vote basis. Cooperatives enable members to reap the benefits of a joint endeavor while maintaining their independence. The cooperative option provides consumers and producers with more options. And more choice means a more innovative marketplace and more accessible products and services.
If you would like to celebrate further or find out more information, go to the Cooperative Month’s web site by
clicking here.
Along with many other national cooperative associations, the National Rural Electric Cooperative Association (NRECA) is a member of the National Cooperative Month Committee on behalf of all electric cooperatives nationwide.
Kentucky Association of
Electric Cooperatives, Inc.
4515 Bishop Lane * Louisville, KY 40218
502-451-2430 * FAX: 502-459-3209 Terms of Use
Cooperatives are member-owned and democratically controlled enterprises, created and used by their member-owners to provide goods and services. A co-op operates for the benefit of its member-owners. Across America, 120 million people are finding solutions to community needs by forming cooperative businesses. This means cost savings, less risk and more choices for America's consumers and producers.