Each person or entity receiving electric service from Woodruff Electric Cooperative is a member of Woodruff Electric Cooperative. This cooperative is a not-for-profit organization formed to provide services at cost to its members. Members of Woodruff Electric pay competitive rates for electric service which generates a profit for the cooperative. These profits are retained and invested in plant and equipment necessary to provide service to members. When prudent financial considerations allow, previously retained profits are refunded to members by way of a capital credit retirement check. Rights and obligations of members arise from a contractual relationship detailed in Woodruff Electric Bylaws provided each member when application for electric service is made.
Most information published by Woodruff Electric Cooperative refers to members. What persons or organizations are being referred to and what are the benefits and obligations of “membership”?
