People often ask me what makes cooperatives like Kankakee Valley REMC different from large investor-owned utilities. At a time when state regulators are responding to customers’ affordability concerns from other utilities, it’s worth taking a moment to remind our members of the key differences.

The biggest difference is mostly about profits. Big utilities are under pressure from stockholders to generate higher profits for the investors who own their stock.

Co-ops like Kankakee Valley REMC aren’t in business to make profits. We’re here to make sure the communities we serve have a reliable, affordable source of electricity. We do need to cover the cost of the power we buy, and put a little extra aside to cover service improvements and unexpected expenses like storm damage. But when we make more money than we need, we return it to members like you through what are known as capital credits.

Last year, our directors returned $2.5 million in capital credits to members from 1987 to 1989, continuing a long-standing tradition that reflects the very spirit of our co-op. That isn’t the only way we share financial successes with you. Anytime we find ways to save money, those savings show up on your electric bills. In December, our members received a one-time credit from savings resulting from our switch to time-of-use rates. In January, we reduced the rates by about 6% in anticipation that those same savings would be realized as our members continue to reduce use during peak times. By following the time-of-use rates and avoiding energy use during peak times, our members helped make these savings possible

There’s another important difference between those huge power companies and us, and that comes down to the people who make the decisions. Large utilities are managed by individuals who are financially invested in the company and are rewarded when the company earns a profit. Kankakee Valley REMC’s operations are overseen by a group of members just like you. While they are paid for their time in meetings and trainings, their compensation isn’t based on the co-op’s profits. Their motivation comes from doing what’s best for the co-op and its members, because they are members too.

At this year’s Annual Meeting, members like you will elect two of those directors; one representing parts of Marshall and Starke counties, and one at-large director who represents members throughout our co-op. If you’d like to know more about the role our directors play or are interested in becoming a candidate, visit the About Us page on our website and click the Board of Directors link. There you’ll find more information about our directors and how to become a candidate