SECO News March 2023

• March 12, 2023
• Category: Company News, SECO News

 

Dear Members,

 

SECO Energy is a not-for-profit electric cooperative operated for and owned by its members. Our business model requires and encourages member participation in District and Annual Meetings. One of the seven cooperative principles is Democratic Member Control which gives members a voice in the cooperative’s governance process. 

 

Our service area covers 2,100-square miles and is divided into nine Districts. SECO Energy’s Board of Trustees is a nine-member Board. One member from each District is elected by the members in that District to serve a three-year term.  

 

Collectively, the Board of Trustees represents the membership as a whole and meets monthly to monitor the cooperative’s financial status. The Board provides fiduciary and policy-making oversight to serve the best interests of the membership at large.  

 

This year SECO Energy held three District Meetings (Districts 2, 4, and 6) for members to elect a Trustee to serve on the Board. 

 

In District 2, four candidates submitted letters of intent to run. From those candidates, members re-elected incumbent Joyce Anderson as the District 2 Trustee. Mrs. Anderson has been a SECO member since 2017 and was first elected to the Board in 2020. She has earned the Director Gold Credential from the National Rural Electric Cooperative Association (NRECA), which is its highest Trustee accreditation. Mrs. Anderson also currently serves on the Board as Secretary-Treasurer. 

 

In District 4, members re-elected incumbent Richard Dennison as the District 4 Trustee. Mr. Dennison was first elected to the Board in 2015 and has been a SECO member since 1999. He too has earned the Director Gold Credential from the NRECA. 

 

Mr. Dennison has served previously as Board Vice President and President.  

 

In District 6, members re-elected incumbent Mike Muffett as the District 6 Trustee. Mr. Muffett was first elected to the Board in 2020 and has been a SECO member since 1984. He also has earned the Director Gold Credential from the NRECA.     

 

Please join the SECO team in congratulating Mrs. Anderson, Mr. Dennison and Mr. Muffett on their re-elections to the SECO Energy Board of Trustees. We look forward to continuing to support SECO Energy’s Mission, Vision and Core Values through the execution of our Strategy Map. 

 

Sincerely,

 

 

---

 

SECO Energy Foundation

 

In January we launched the SECO Energy Foundation as an enhancement to our existing Pennies from Heaven. The Foundation is funded by members who round up their bills to the nearest dollar. The average donation is $6 annually. 

 

The enrollment mode changed in January from opt-in to opt-out. This decision was made with much forethought, research and more than anything, with strong consideration for improving the quality of life in the communities we serve. Like Pennies from Heaven, the Foundation will be funded largely through SECO’s electric bill round-up program. As a tax exempt nonprofit 501c3 entity, the Foundation can also apply for grants through other local, state and federal funding programs that align with SECO Energy’s and the Foundation’s goals.   

 

Just like Pennies from Heaven, participating members’ pennies are donated to the Foundation to fund grants and bill payment assistance that make a difference in the lives of members across the communities we serve. The SECO Energy Foundation will have more funding for our United Way partners and social service agencies to apply toward bill payment assistance for members in need and will also fund the scholarship program starting this year.  Equally important, the Foundation will also be able to accept a variety of grant applications that support SECO Energy initiatives outlined in our Strategy Map. 

 

SECO Energy’s Board of Trustees voted in March 2022 to create the Foundation and change the enrollment method. SECO Energy incorporated the SECO Energy Foundation, Inc. and it has complied with IRS and Florida’s Check a Charity registration requirements. Foundation Bylaws and Articles of Incorporation were filed appropriately and are posted on our website. Our research showed that an opt-out enrollment is becoming more mainstream.  

 

Contributions are tax-deductible for members who donate and allow the Foundation (as a nonprofit entity) to apply for grants from other local, state and federal sources. Grants may include investments in first responder equipment, energy-efficiency grants for low-income communities and senior/youth centers. 

 

Helping people in need and reducing costs are critical in today’s economic environment but we understand that supporting the Foundation is a personal choice. Any Pennies unknowingly/unintentionally donated will be fully refunded upon member request.  

 

If you want to stop your bill from rounding up to donate the extra pennies to the Foundation, visit SECOEnergy.com > Contact > SECO Energy Foundation. You can log into SmartHub and change your enrollment status, email CustomerService@SECOEnergy.com, call (352) 793-3801 or write to SECO Energy, Attn: Corp Comm, P.O. Box 301, Sumterville, FL 33585. 

 

Our ability to help disadvantaged members, to reduce our carbon footprint and lower costs for all members will be impacted by the Foundation’s focus on supporting SECO’s energy-efficiency initiatives. 

Read the full March 2023 SECO News online.