Curtis Wynn – Page 3

SECO Energy Holds 2024 Annual Meeting with Record Member Participation  

SECO Energy held its 2024 virtual Annual Meeting celebrating its 85th year as an electric cooperative on Thursday, March 21, 2024. The Meeting had a record number of member participation with over 17,000 members participating in the Cooperative’s governance process through their vote on Annual Meeting business.

During the Meeting, SECO Energy’s membership approved two revisions to the Cooperative’s Bylaws pertaining to District Meetings and Trustee Qualifications and the 2023 Annual Meeting Minutes. SECO Energy’s Board of Trustees recommended both revisions, with the first revision allowing a Trustee candidate to be declared Trustee at the District Meeting without holding an uncontested election if only one candidate is certified by the secretary and the second clarifying the District residency requirements to serve as a Trustee. Members can access the updated Bylaws on SECOEnergy.com or at any SECO Energy Member Service Center.

Highlights of the Meeting included SECO Energy’s Board President Gerald Anderson and Chief Executive Officer Curtis Wynn delivering their respective addresses to the membership, providing important updates on the Cooperative’s business and financial standing to ensure SECO Energy members are well-informed of the Cooperative’s direction and policies. Their messages reinforced SECO Energy’s dedication to providing reliable and innovative energy services and the Cooperative’s Vision to lead in member satisfaction and engagement, inviting members to partake in SECO Energy’s Member Engagement Panel and have their questions answered by the Cooperative’s Executive Leadership Team.

“This year marked a significant milestone for SECO Energy, commemorating its journey from a collective effort of rural households in 1938 to a major electric cooperative serving over 240,000 members today,” stated Wynn. “This milestone year commemorates decades of service, community involvement, and the Cooperative’s commitment to innovation and growth.”

Looking ahead, SECO Energy strategically focuses on improving operational efficiency, strengthening connections with its members, and navigating the evolving energy landscape. A vital component of this strategy is SECO Energy’s investment in Advanced Metering Infrastructure (AMI), which marks a step towards modernizing the Cooperative’s services, offering members real-time insights into energy usage, and enabling a more resilient and sustainable energy infrastructure.
SECO Energy remains steadfast in its mission to enhance member experiences and lead the way in energy innovation as the Cooperative moves into the future. SECO Energy members are encouraged to stay tuned for upcoming announcements, including the launch of a program that leverages smart technology for energy efficiency and sustainability.

For those who missed the live event, the Annual Meeting recording will be available on the SECO Energy website, YouTube, and Facebook, featuring the list of 101 prize winners and more.

“Like” SECO Energy on Facebook and follow @SECOEnergy on Twitter for prize drawings, news releases, and severe weather alerts affecting SECO Energy’s service territory. Manage your outage notification preferences at StormCenter. To see when SECO Energy crews/contractors are working in your area, visit our new System Improvement Map. To learn more about SECO Energy as a not-for-profit cooperative, visit About SECO Energy.

SECO Energy Reaches Significant Safety Achievement of One Million Safe Work Hours

SECO Energy proudly announces the Cooperative’s team of over 400 employees has collectively worked over one million hours safely. This significant achievement demonstrates the dedication to ensuring the safety of SECO Energy’s employees, members, and the general public.

Working in the electrical industry inherently involves various risks, including, but not limited to, those associated with overhead transmission and distribution, underground lines, substations, electrical testing, tree trimming, operating equipment, vehicles, and other machinery.

“At SECO Energy, Safety is our very first Core Value and adherence to safety protocols is not merely a requirement but a fundamental aspect of our culture that is important to our employees,” stated Curtis Wynn, SECO Energy’s CEO. “Employees regularly undergo extensive training and are encouraged to identify and report potential hazards proactively.”

To assist in overseeing safety initiatives, SECO Energy has a Joint Safety Committee comprised of representatives from multiple departments and levels of the Cooperative. Collaboratively, the committee identifies hazards, develops protocols, and implements measures to mitigate risks, ensuring safety remains a paramount concern across our operations, including general office safety.

In an effort to promote a unified approach to safety among employees, the Joint Safety Committee recently selected the slogan “One SECO, One Way; Safety First, Day by Day,” proposed by Donna Etts, SECO Energy’s Manager of Member Services, as this year’s safety slogan. This slogan symbolizes SECO Energy’s collective commitment to prioritizing safety. It will serve as a reminder as the Cooperative continues to move forward, upholding the highest safety standards.

SECO Energy’s achievement of one million safe work hours reflects not only its dedication to maintaining a safe work environment but also its proactive approach toward fostering a culture of safety that permeates every aspect of the Cooperative’s operations.

SECO Energy Achieves Impressive ACSI Score for 2023

SECO Energy, the leading not-for-profit electric cooperative serving over 240,000 homes and businesses in seven Central Florida counties, proudly announces the successful completion of its annual member-wide customer satisfaction survey. Over 1,700 members actively participated in providing valuable feedback that has once again positioned SECO Energy as a leader in customer satisfaction within the utility sector.

The member responses were evaluated by the American Customer Satisfaction Index (ACSI®), a company specializing in measuring customer satisfaction across diverse industries throughout the entire United States. For 2023, SECO Energy received an ACSI score of “89” on a 100-point scale [1], reflecting the cooperative’s unwavering commitment to excellence in service.

Curtis Wynn, CEO of SECO Energy, expressed his enthusiasm about the outstanding achievement, stating, “At SECO Energy, one of our top priorities is to ensure our members receive exceptional service. This remarkable ACSI score of ’89’ underscores our dedication to providing reliable and innovative energy services. We are proud to surpass all publicly measured investor-owned utility scores, cooperative utility scores, and municipal utility scores, establishing SECO Energy as a leader in customer satisfaction.”

SECO’s ACSI® score of “89” not only surpasses the average investor-owned utility score of 72 but also exceeds the average municipal utilities score of 71, according to the 2023 ACSI Utility Sector Report. Additionally, SECO Energy outperforms the average cooperative utility score by an impressive 15 points.

ACSI is the only national cross-industry measure of customer satisfaction in the United States. It plays a crucial role in providing science-based insights across the complete arc of the customer experience. SECO Energy is honored to be acknowledged for its commitment to outstanding member satisfaction and engagement.

Curtis Wynn expressed his gratitude to SECO Energy members, stating, “Thank you, members, for recognizing our commitment to outstanding member satisfaction and engagement. We are 100% committed to engaging with you and ensuring SECO, along with its 400+ employees, fulfills our mission to provide reliable and innovative energy services. Earning your trust is an accomplishment like no other.”

[1] Compared to publicly measured energy utilities in the ACSI® survey of customers rating their own energy utility. Results based on data provided by SECO Energy, collected between December 4 and 8, 2023. ACSI did not regulate the survey administration or sample size. ACSI and its logo are registered trademarks of the American Customer Satisfaction Index LLC. For more about the ACSI, visit www.theacsi.org

SECO Energy District 9 Members Re-Elect Trustee Morgan Hatfield

SECO Energy members who reside in District 9 re-elected Morgan Hatfield as the District 9 Trustee to serve on SECO Energy’s Board of Trustees. The District 9 Meeting was held within the District on January 30 at Spring Creek Elementary School in Paisley.

SECO Energy is a not-for-profit electric cooperative operated for and owned by its members. SECO’s service area is geographically divided into nine Districts. One Trustee is elected from each of the nine Districts to represent their fellow members on SECO’s nine-member Board of Trustees. Collectively, the Board represents the SECO membership, meeting monthly to monitor the cooperative’s financial status while providing fiduciary oversight and participating in policy decisions that serve the best interests of the membership at large.

The District 9 election was uncontested, with Ms. Hatfield retaining the seat for another 3-year term. SECO’s Bylaws require that the cooperative hold District Meetings. Subsequently, Florida Statute requires SECO to hold in-person elections. A drive-thru voting option was available for members for added convenience and to encourage participation.

A SECO member since 2019, Ms. Hatfield currently holds the position of Secretary/Treasurer for the Board of Trustees. She attained the Director Gold credential, which is the highest level of achievement through the National Rural Electric Cooperative Association (NRECA). Trustee Hatfield earned a degree in Finance from UCF and is a Senior Wealth Advisor/Partner of Ruggie Wealth Management.

Ms. Hatfield shared with the District 9 audience, “I want to thank all District 9 members for attending and showing your interest in participating as SECO members. I am eager to continue working with my fellow Board of Trustees and doing our best to serve our members with an outstanding product supported by industry-leading service.”

Board President Gerald Anderson stated, “Congratulations, Ms. Hatfield, on your re-election as District 9 Trustee. I am grateful to the District 9 members who attended the Meeting and participated in our cooperative’s governance process. On behalf of our fellow Board members and peers, we are excited to support SECO Energy’s Mission and Vision through our Board service.”

Curtis Wynn CEO stated, “The Board of Trustees and the SECO Energy membership are grateful to all Trustees who give generously of their time and experience. We are very happy to have Ms. Hatfield continue with her leadership and strong contributions to the success of SECO Energy in her role as a Board Trustee and her expanded responsibilities as Secretary/Treasurer. Thank you, District 9 members, for your attendance at the meeting and your interest in SECO Energy and the strategic direction in which the board, executive leadership team and employees are taking your electric cooperative.”

SECO News January 2024

Dear Members,

SECO Energy has been your local, trusted electric service provider for 85 years. We are an award-winning, not-for-profit electric cooperative that is growing, changing, and striving to be your cooperative of the future.

In January 2023, I unveiled our updated Mission, Vision and Core Values and a clear, focused strategic direction through our Strategy Map. Throughout the past year, we have focused on the fundamental objectives in our Strategy Map to build a solid foundation for success.

One foundational technology currently underway is our systemwide automated metering infrastructure (AMI) project. Members with an AMI meter installed already see the benefit of this cutting-edge technology. AMI meters collect usage data in 15-minute intervals and break down the patterns recorded by common appliances and electronics to provide a comprehensive snapshot of your household’s usage. With AMI meters, SECO can assist you with more innovative and energy-efficient services that reduce costs in the long run.

With the adoption of AMI, we can expand demand response programs that will provide wholesale power cost reductions and lower your bills. Demand response programs put you in control of the amount of energy you use and when you use it. We are exploring several bring-your-own-device programs for smart thermostats, smart water heaters, electric vehicles and chargers, and whole-home generators.

Many of these are already owned by you, and programs featuring these devices are the key to reducing your energy bill.

Another project of note is transitioning older, high-pressure sodium area lighting (HPS) fixtures to LED (light-emitting diode) area and street lighting. LED area lighting is a newer technology that is more energy efficient. LEDs use less energy, are more reliable, use less heat, and many fixture types are DarkSky friendly. The SECO team is devising a plan to fully transition to LED lighting in the future as the availability of HPS fixtures is scarce.

Our focus remains on our core business and meeting the increasing demand for reliable, affordable, and safe energy in our area. These proposed innovative energy services will enable SECO to maintain competitive rates and member satisfaction.

Review our Strategy Map online at SECOEnergy. com > Your Co-op > Strategy Map. Happy New Year from the SECO family to yours. Best regards,

Best regards,

Curtis Wynn
Chief Executive Officer

SECO Energy is excited to offer members an exclusive opportunity to enhance the electric vehicle (EV) charging experience! Upgrade from a Level 1 Charger to our top-of-the-line ChargePoint Home Flex Level 2 Fast Charger and unlock a world of convenience and efficiency for your EV.

WHY UPGRADE TO A LEVEL 2 FAST CHARGER?

SPEED AND EFFICIENCY: The ChargePoint Level 2 Fast Charger is designed to significantly reduce charging time compared to Level 1 Chargers. With its 240-volt power supply, charging is faster, ensuring your EV is ready to hit the road quickly.
CONVENIENT HOME CHARGING: Imagine the convenience of charging your EV overnight in the comfort of your home. No trips to public charging stations – plug in and wake up to a fully charged vehicle. Plus, you can take advantage of SECO’s Super Off-Peak EV Charging Incentive!
AFFORDABLE LEASING OPTIONS: Make a sustainable choice without breaking the bank. Lease the ChargePoint Level 2 Fast Charger for just $14.50 monthly plus tax.
OWNERSHIP BENEFITS: If you prefer to own your charging solution, you can purchase the ChargePoint Level 2 Fast Charger for only $699 plus tax. It’s a one-time investment that pays off in the long run, offering you the convenience of home charging for years to come.

We’re waiving the $50 installation fee for a limited time. Contact a licensed electrician to assess your breaker panel capacity and installation of the 240-volt outlet and NEMA 14 50-amp receptacle. We’ll install the charger and offer technical assistance.

SUPER OFF-PEAK CHARGING INCENTIVE

Do you already own an EV? Sign up for SECO’s Super Off-Peak Charging Incentive. Charge your all-electric EV during Super Off-Peak hours (12 a.m. to 6 a.m.) and be rewarded with a $7 monthly incentive.

Take advantage of the chance to elevate your EV charging experience with a Level 2 EV Charger and Super Off-Peak Incentive from SECO Energy. Complete the web form to get started today!

DEAR MEMBERS,

SECO Energy’s Board of Trustees is a nine-member board comprised of your fellow SECO members. As Trustees, it is our responsibility to establish, review, and revise corporate policies that preserve the foundations of our not-for-profit electric cooperative. We work to ensure that SECO continues to maintain reliable, affordable service for all members.

What sets SECO apart is that the cooperative is owned by the members it serves; there are no shareholders or outside investors. Established as Sumter Electric Cooperative, Inc. in 1938, we are now d/b/a SECO Energy with a Mission to provide reliable and innovative energy services to our almost 240,000 homes and businesses in our service area.

SECO Energy’s Board of Trustees has invested extensive time and resources to complete continuing education programs offered by the National Rural Electric Cooperative Association (NRECA) that help Trustees better understand the energy industry. NRECA’s programs are tailored specifically for cooperative Trustees, providing a comprehensive curriculum to enhance their expertise.

Each member of SECO Energy’s Board of Trustees has participated in the NRECA’s continuing education program and earned the prestigious Director Gold Credential (DGC). A Director Gold Credential signifies the highest level of commitment to continuing education, requiring participants to complete 19 credits earned through courses that mirror college-level rigor. Each credit requires a minimum of eight hours of coursework.

Our Trustees’ commitment is further highlighted by the exclusivity of their accomplishments.

Among the over 832 electric distribution cooperatives in the U.S., SECO stands out as one of the select few, with 100% of its Board achieving Director Gold status. This accolade places SECO’s Trustees in a truly elite category, showcasing their dedication to advancing their knowledge and skills.

Once earned, Trustees must re-certify as Director Gold every two years. This re-certification includes completing three study credits that ensure participants maintain their industry knowledge. This commitment to ongoing education underscores SECO’s dedication to having a Board equipped with the latest insights in the ever-evolving electric utility landscape.

The electric utility industry is complex; it faces challenges, threats, and opportunities. Your Board of Trustees is well-equipped to steer the cooperative through these complexities, ensuring a bright outlook for SECO Energy, its members, and communities.

As president of SECO’s Board of Trustees, I am extremely proud of the accomplishment of the entire Board in achieving the highest level of education – Director Gold.

Sincerely,

GERALD ANDERSON

BOARD OF TRUSTEES PRESIDENT

As your trusted electric cooperative, we prioritize your safety and well-being. Recently, there has been a rise in energy fraud targeting consumers, and we want to ensure that you are well informed and protected. Keep these crucial warnings in mind:

BEWARE OF UNSOLICITED CALLS: Scammers may pose as utility workers, making unsolicited calls claiming your account is overdue and threatening immediate disconnection if payment is not made. SECO will never demand immediate payment over the phone or threaten disconnection without prior written notice.
PHISHING EMAILS AND TEXTS: Be cautious of emails or text messages requesting personal or financial information. Always verify the sender’s authenticity before clicking on any links. SECO communicates official information through our account management platform, SmartHub, and will never ask for sensitive information via email or text.
DOOR-TO-DOOR SCAMS: Scammers may appear at your doorstep, claiming to be SECO employees and requesting payment. Authentic SECO representatives carry proper identification and will not demand on-the-spot payments. If in doubt, call our Member Services team to verify the person’s identity.
FAKE UTILITY APPS: SmartHub is SECO Energy’s approved online account manager. Scammers may create fake apps to gain access to your personal information. Enroll in SmartHub to check your balance, pay your monthly bill, enroll in bank draft, and more; visit SECOEnergy.com > My Account > 12 Ways to Pay.
WAYS TO PAY: SECO does not accept PayPay, Zelle, Cash App, Venmo or gift cards for payment. Enrolling in bank draft, with a paperless bill, is the safest payment and bill delivery option.

If you encounter suspicious activity or feel threatened, it is best to contact local law enforcement. We are committed to providing reliable and innovative energy services while ensuring the safety and security of our members. Stay informed and vigilant.

Read the full January 2024 SECO News.

SECO Energy Board of Trustees Attain 100% Gold Certification

SECO Energy’s Board of Trustees is a nine-member Board comprised of SECO members who govern the not-for-profit electric cooperative. Trustees establish, review, and revise corporate policies that preserve the foundations of the not-for-profit electric cooperative. They work to ensure that SECO continues to maintain reliable, affordable service for all members.

SECO Energy is different from an investor-owned utility in that it is owned by the members it serves; there are no shareholders or outside investors. Established as Sumter Electric Cooperative, Inc. in 1938, and now d/b/a SECO Energy, its Mission is to provide reliable and innovative energy services to the almost 240,000 homes and businesses within its seven-county service area.

SECO Energy Trustees’ commitment is further highlighted by the exclusivity of their accomplishments. Among the over 832 electric distribution cooperatives in the U.S., SECO stands out as one of the select few with 100% of its Board achieving Director Gold status. This accolade places SECO’s Trustees in a truly elite category, showcasing their dedication to advancing their knowledge and skills.

SECO Energy CEO Curtis Wynn commended the Board of Trustees, stating, “The electric utility industry is complex; it faces challenges, threats, and opportunities. Our Board of Trustees is well-equipped to steer the cooperative through these complexities, ensuring a bright outlook for SECO Energy, its members, and communities.”

President of SECO’s Board of Trustees, Gerald Anderson added, “I am extremely proud to serve as President of the SECO Energy Board of Trustees. The accomplishment of the entire Board in achieving the highest level of education – Director Gold – is an invaluable asset to SECO Energy and its membership. Their commitment to member satisfaction, cooperative governance and expanding their knowledge base is unmatched.”

SECO News December 2023

Dear Members,

Merry Christmas and Happy New Year! This month, I want to acknowledge our group of generous SECO Energy employees who support our yearly United Way corporate giving effort. These community-minded folks are a testament to how collaborative giving has far-reaching effects in our service area.

Each year, SECO Energy employees participate in our annual United Way Employee Giving Campaign; this is a cause many of our employees truly believe in. United Way is on a mission to improve lives and strengthen communities. Hundreds of SECO employees pledged a portion of their 2024 earnings to local United Ways – this is giving that lasts long after the Christmas season.

Local United Ways will benefit from SECO Energy employees’ pledges of $37,164 through the employee-led 2024 United Way Pledge Drive. Our employees have been actively supporting United Way for decades. During that time, employees have pledged over $1,120,000 to aid local families through the United Way.

SECO Energy employees choose the county and the program their donated dollars will benefit. Most of our employees live in Citrus, Lake, Marion and Sumter Counties, and those counties received the highest dollar amounts in donations.

United Way Pledges 2024 Employees also deliver Christmas magic by filling Santa’s sleigh through our corporate Marine Corps Reserve Toys for Tots donation drive. Starting in November, employees and members donated new, unwrapped toys for the drive. All toys donated are dispersed in the local area where they were collected.

Retired Marines and other volunteers pick up donations in early December to distribute to children in need in time for the holidays. Those who want to register to receive toys donated through Toys for Tots can visit ToysforTots.org > Request a Toy.

SECO Energy is a proud sponsor of Toys for Tots as well. To support our employees’ giving, SECO Energy donated $2,500 to Toys for Tots to further assist our local communities.

From the SECO Energy family to yours, we wish you Happy Holidays and a Happy New Year!

Best regards,

Curtis Wynn
Chief Executive Officer

Winter temperatures are heading to Central Florida soon. During colder months, many households experience increased energy consumption due to holiday decorations, out-of-town guests, and cooking for family and friends. We have cold-weather energy-efficiency tips to help you reduce energy consumption. 

Upgrade to LEDs (light emitting diode) for holiday decorating and inside your home. LEDs use significantly less electricity than even small incandescent lights, generate little heat, have a longer lifespan and come in various colors and styles. 

For cooking, use small appliances, when possible, instead of your oven. Crockpots, Instant Pots, air fryers and toaster ovens use less energy and generate less heat. In Florida, grilling season is almost year-round; you can fire up the grill to reduce energy use, too. 

When the colder winter air moves in, turn your thermostat to 68 degrees or lower to reduce energy consumption. 68ºF is the optimal temperature for home heating per Energy.gov. To combat the cold, wear socks and sweaters and use an extra blanket.

Invest in a smart thermostat. Smart thermostats are Wi-Fi-enabled devices controlled with your smartphone, tablet, smart speaker or other device connected to the Internet. Installing a smart thermostat allows you to schedule your home’s temperatures for comfort. Some units learn your habits and preferences. Smart thermostats will provide you with data on your home’s energy use and other features.

Schedule an HVAC tune-up before cold temps set in. Your HVAC requires maintenance to operate efficiently and extend its lifespan. It is a small price to pay for peace of mind. This is a job best left for HVAC professionals to complete. THERMOSTAT SETTING IDEA

Enrolling in paperless billing with SECO Energy has benefits that go beyond just saving paper – it is a smart and eco-friendly choice that can simplify your life in many ways.

Unlike traditional paper bills that can take days to arrive in your mailbox, eBills are delivered to your email inbox instantly. You’ll get timely access to important billing information, making it easier to manage your account.

Going paperless minimizes the risk of misdirected mail delivery, which can sometimes lead to your bills ending up in the wrong hands. Moreover, it reduces the potential for identity theft, as your bill is delivered securely to your email address, which is under your control.

SECO Energy makes it even more convenient by offering a bank draft method for payments, which will ensure you never miss a due date. No more writing checks, buying stamps, or worrying about your payment getting lost in the mail. With paperless billing, your payments are hassle-free and always on time.

Enrolling in both paperless billing and bank draft helps you avoid missed bill payments, late fees and possible disruptions in your services. With eBills, your account information is accessible from anywhere with an Internet connection, so you can stay on top of your financial obligations even when you are away. Your eBill includes a link to our monthly SECO News, which you can read online and further reduce paper waste.

Enrolling in paperless billing and bank draft with SECO Energy is a win-win. You save time, enhance security, reduce your environmental footprint, and simplify your account management. Visit SECOEnergy.com > My Account > 12 Ways to Pay to log in or establish a SmartHub account. With SmartHub you can view your bill, enroll in paperless billing or bank draft, compare your monthly usage history and more.

SECO Energy’s systemwide AMI (advanced metering infrastructure) metering project launched in 2023. Honeywell, our approved contractor, has worked diligently in the eastern portion of our service area to meet our goal of exchanging 60,000 meters by the end of the year. Full deployment of almost 240,000 AMI meters will take three to four years to complete.

Accounts with an AMI meter can review detailed usage data and other energy-saving tools. The Honeywell meter is highly accurate and offers many benefits to members and new energy-saving features through SmartHub. The meter communicates with SECO Energy to reduce the costs of monthly meter readings and supplies members with 15-minute reading interval data.

AMI meters use an algorithm of your usage data to estimate how much energy your home’s appliances use based on the interval readings to help you identify potential energy wasters in your home. If there’s an HVAC, water heater or other large energy-use device malfunction, you’ll know sooner rather than later. The meter can’t view your actual in-home behavior. Its software assesses your home’s load profile and estimates usage of items that use electricity based on average consumer usage and behavior.

Once the AMI meter at your location has been installed, data integration with SmartHub may take up to 60 days. To view your 15-minute interval usage data, compare historical usage, set usage alerts, schedule a payment, and more, make sure you’re enrolled in SmartHub at SECOEnergy.com.

To learn more about our AMI project, visit SECOEnergy.com > My Account > AMI, where you can review our previous communications in SECO News, search for your address on the AMI deployment map and read frequently asked questions.

Read the full December 2023 SECO News.

SECO Energy and Gresco Utility Supply Celebrate Capital Credits Partnership

SECO Energy, the trusted electric cooperative serving over 235,000 homes and businesses in Central Florida, recently celebrated a significant milestone in its partnership with Gresco Utility Supply, a fellow not-for-profit cooperative. This partnership has proven to be a significant benefit to SECO Energy and its members through Capital Credits delivered to SECO by another cooperative with which SECO does business.

Gresco President & CEO, Steve Gramling, presented SECO Energy CEO, Curtis Wynn, with a check totaling an impressive $2.1 million. This check represents SECO’s share of Gresco’s current Capital Credits retirement cycle, showcasing the strength of their collaboration.

Gresco Utility Supply, originally formed in 1960 by 15 electric cooperatives, has evolved into a vital supply-chain partner. The company’s portfolio includes an array of products and services in lighting, tools, telecom, solar, EV charging stations, and unmanned aircraft systems. SECO Energy’s partnership with Gresco is integral to its operations, and the electric cooperative reaps allocated margins from Gresco based on its annual supply purchases.

Furthermore, SECO Energy’s equity in Gresco has grown impressively, cementing its position as one of Gresco’s largest member-owners by equity. This long-standing partnership has not only strengthened the cooperation between the two entities but has also delivered substantial benefits to SECO Energy’s members. This most recent capital credit retirement represents 20% of SECO’s patronage with Gresco.

CEO Curtis Wynn applauds the partnership between SECO and Gresco. Wynn stated, “SECO Energy is dedicated to providing innovative energy services to its members and communities. During this time of supply chain constraints, Gresco is SECO’s trusted partner that provides the equipment needed to supply safe, reliable energy that is affordable. Gresco also answers the call during mass restoration efforts after major storm events. The supply chain delivery service Gresco provides to SECO is invaluable.”

In line with this commitment, SECO Energy also returns a portion of its margins in the form of Capital Credits to current and former members. The recent distribution of Capital Credits to current members in their November billing statements further exemplifies SECO Energy’s dedication to its members’ well-being.

This milestone in the partnership between SECO Energy and Gresco Utility Supply underscores the cooperative’s mission to provide exceptional service to its members while fostering collaboration with like-minded organizations.

About Gresco Utility Supply

Gresco Utility Supply is a not-for-profit cooperative formed in 1960 by 15 electric cooperatives. It has evolved into a diverse supply-chain partner, offering products and services in lighting, tools, telecom, solar, EV charging stations, and unmanned aircraft systems to meet the needs of electric cooperatives and their members.

SECO Energy Announces $2.01 Million Capital Credits Retirement to Members

SECO Energy, an electric cooperative serving over 235,000 homes and businesses in seven Central Florida counties, is excited to announce the approval of a $2.01 million Capital Credits retirement to its current and former members. The decision, approved by the SECO Energy Board of Trustees, highlights the cooperative’s ongoing commitment to its members and communities.

Capital Credits are a unique feature of cooperatively formed businesses like SECO Energy. They signify the true cooperative difference, where those purchasing electricity from SECO are not just customers but partial owners of the cooperative. This ownership structure is fundamental to the cooperative business model, allowing SECO Energy to reinvest unretired capital into reliability improvements while ensuring that members receive a return of member-furnished capital.

The retirement of Capital Credits follows a diligent process. After covering all operating costs and expenses, SECO Energy designates the prior year’s excess revenues as Patronage Capital. These margins are then allocated pro-rata to each member’s account as capital credits, representing the percentage of the annual amount of electric service purchased by each member.

SECO Energy Board of Trustees CEO Curtis Wynn remarked, “SECO Energy has a strong tradition of returning Capital Credits to our members. In fact, we have retired nearly $83 million to our membership over the years, with almost $50 million retired in the last decade alone. This represents a significant commitment to our members and communities and exemplifies the cooperative principle of member benefit.”

The role of the SECO Energy Board of Trustees is pivotal in the retirement of Capital Credits. They rigorously review the cooperative’s financial position, consider management’s recommendation, and determine the approval of the Capital Credits return. This process ensures transparency and accountability in how the funds are allocated to the cooperative’s members.

The retirement of $2.01 million in Capital Credits is a testament to SECO Energy’s unwavering commitment to its members. As a cooperative, not-for-profit electric provider, SECO Energy remains dedicated to serving its communities with integrity and dedication.

Wynn emphasized, “SECO members are at the heart of everything we do, and we look forward to providing you with reliable electricity and the benefits of being part of our cooperative family. Your satisfaction and well-being are our top priorities.”

Current members will find the credit on their November billing statement, while former members will receive a check. This announcement underscores SECO Energy’s resolve to fulfill its mission of providing reliable and innovative energy services to its members and communities.

SECO News November 2023

Dear Members,

At SECO Energy, our commitment to serving our members goes beyond providing safe, reliable and affordable electricity to homes and businesses across Central Florida. We are proud to announce that the SECO Energy Board of Trustees has approved a Capital Credits retirement of $2.01 million to current and former members. Current members will see the credit on their November billing statement and former members receive a check.

Capital Credits are distinct to cooperatively formed businesses like SECO Energy, and they are the true cooperative difference. SECO customers are members; they are partial owners of the cooperative. This ownership structure is a foundational part of the cooperative business model, and it allows us to utilize unretired capital to invest in facility improvements while ensuring that our members receive a return of member-furnished capital.

After covering our operating costs and expenses, SECO Energy reclasses the prior year’s excess revenues as Patronage Capital. The margins are then allocated pro-rata to each member’s account as capital credits. Your individual Capital Credit allocations represent the percentage of the annual amount of electric service purchased by you.

SECO Energy has a strong tradition of returning Capital Credits to our members. In fact, we have retired nearly $83 million to our membership over the years. Almost $50 million has been retired in the last decade alone. This represents a significant commitment to our members and communities, and it exemplifies the benefit of cooperative membership.

Our Board of Trustees plays a crucial role in the retirement of Capital Credits. They review the financial position of the cooperative, consider management’s recommendation, and determine the approval of the Capital Credits return. This process ensures transparency and accountability in how we allocate these funds to our members.

The retirement of $2.01 million in Capital Credits is a testament to SECO Energy’s ongoing commitment to our members. We are proud to be a cooperative, not-for-profit electric provider, and we will continue to serve our communities with dedication and integrity.

SECO members are at the heart of everything we do, and we look forward to providing you with reliable electricity and the benefits of being part of our cooperative family. Your satisfaction and well-being are our top priorities.

Best regards,

Curtis Wynn
Chief Executive Officer

Electrifying rural America is a testament to the transformative power of ingenuity, cooperation and a shared vision for progress. Sumter Electric Cooperative, Inc. (now d/b/a SECO Energy) embarked on its journey in 1938 to provide rural Central Florida residents with essential electric service. Through its dedication to this mission, the not-for-profit cooperative has illuminated homes and businesses and played a pivotal role in fostering economic growth, improving living standards and creating opportunities for countless individuals. SECO Energy was born from the ideals of the Rural Electrification Administration (REA) era, and it continues to shine brightly today, serving more than 230,000 homes and businesses in its seven-county service area.

The Genesis of Rural Electrification and Birth of Sumter Electric Cooperative

The Great Depression was characterized by economic hardship and widespread unemployment. In response, President Franklin D. Roosevelt’s New Deal introduced several initiatives to revitalize the nation, including creating the REA in 1935. The REA was a visionary program that sought to bring the benefits of electricity to rural areas that had long been left in the dark by investor-owned and municipal utilities that calculated electric expansion was too expensive.

SECO’s history is entwined with the REA’s electrification movement. In 1937, volunteers traveled door-to-door to personally visit residents and encourage cooperative membership. This grassroots approach exemplified the idea that every American, regardless of their geographic location or economic status, deserved access to the benefits of electricity. In 1938, one volunteer, Ray Robbins, was hired as SECO’s first employee.

Safe, Reliable and Affordable Electricity

In our 85-year history, we have grown from a small rural utility to a local, award-winning cooperative of the future. Today, our service area includes urban and rural areas. We continue to provide safe, reliable and affordable electric service to homes and businesses in our communities. Our roots are humble, but our future is mighty.

SECO continues to invest substantially in its infrastructure to maintain safe and reliable service amid Central Florida’s rapid growth. Access to affordable electric service improves residents’ daily lives. It facilitates economic growth by making it more feasible for businesses to operate in our service area.

SECO’s contributions to local economies in its 85-year history are substantial. In earlier years, farmers gained access to modern tools and equipment, which increased agricultural productivity. Small businesses thrived, benefiting from the availability of electric power. This growth, in turn, created employment opportunities.

Growth in our service area is rapid – commercial development, expansion of residential communities and large hubs are being built to support logistics. Not surprisingly, SECO has continued as well, and today employs over 400 of your friends and neighbors to support and expand its operations and infrastructure.

Beyond the tangible economic benefits, SECO plays a vital role in empowering the communities it serves. Access to electricity is essential for healthcare advances, educational opportunities and worldwide connection. The cooperative actively engages with its members, offering education and support about electrical safety, energy conservation and innovative energy services.

Looking to the Future

According to the National Rural Electric Cooperative Association (NRECA), cooperatives like SECO Energy serve 56% of the nation’s landmass, which includes 42 million people and 21.5 million businesses. The energy industry has changed since 1938, and SECO is evolving too. The not-for-profit cooperative business model is alive and well. We are committed to providing our members with safe, reliable, affordable electric service and innovative energy offerings.

We would hardly recognize the Central Florida of just 85 years ago. SECO’s story is one of cooperation, determination and progress. Our dedication to our members and communities is unwavering as we and the energy industry evolve. SECO Energy’s future is bright!

Join SECO Energy employees in spreading the joy of Christmas for children in our local communities. Each year, our employees donate new, unwrapped toys for SECO’s Toys for Tots drive.

Members can donate, too, visit one of our five Member Services Centers in Eustis, Groveland, Inverness, Ocala and Sumterville to donate a toy. The public drop-off period lasts from NOVEMBER 1 TO DECEMBER 2.

Retired Marines and other volunteers operate Toys for Tots and pick up donations to distribute in the local area where they were collected. Members who want to register to receive toys donated through Toys for Tots can visit ToysforTots.org > Request a Toy.

HELP SECO FILL SANTA’S SLEIGH WITH TOYS FOR TOTS DONATIONS THIS YEAR!

For the safety of our members and community, please do not use SECO Energy’s light posts and poles to display holiday decorations or any other items. Decorative poles are not rated for the added weight of lights, decorations, sports equipment or banners.

Do not affix lights, signs, advertisements or banners to any SECO poles. Nailing, stapling, or tacking items to power or decorative poles accelerates wear and degrades their structural integrity and can potentially harm or puncture the protective equipment of our employees and contractors. Moreover, the pole’s ground wire can be damaged, leading to operational issues.

THE SAFETY OF OUR MEMBERS IS PARAMOUNT. We do not want anyone to be injured while hanging lights or decorations from a pole that was never intended to support the weight of such items or a ladder leaned against it.

We appreciate your understanding and cooperation in maintaining a safer environment for all members. Read more about pole safety requirements at SECOEnergy.com > Safety > Keep It Clear.

Read the full November 2023 SECO News.

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Archive

Tag: Curtis Wynn

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SECO News November 2023

The Genesis of Rural Electrification and Birth of Sumter Electric Cooperative

Safe, Reliable and Affordable Electricity

Looking to the Future

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NEED HELP? CALL (352) 793 -3801

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