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SECO Energy 81st Annual Meeting Draws Thousands

SECO Energy held its 81st Annual Meeting of the Membership on Saturday, March 23, 2019, drawing a crowd of nearly 5,000 members, guests, VIPs and employees.

 

The theme of this year’s meeting – “Feeding the Cooperative Spirit” – was also a mission. SECO spread the word that local food pantries are experiencing critical shortages limiting their ability to assist residents. SECO partnered with United Way and food pantries to conduct a food drive at this year’s meeting. Hundreds of members donated non-perishable food items that will be delivered to food banks later this week.

 

Members and guests were treated to breakfast, snacks, live entertainment by Margo Rochelle & Rodeo Drive Band, energy-efficiency displays, gifts, the chance to win door prizes and more. All registered members received a SECO gift, an LED from SECO’s wholesale provider Seminole Electric, a copy of the cooperative’s 2018 Annual Report and additional giveaways.

 

SECO Energy’s Board President and District 9 Trustee Jerry Hatfield called the meeting to order at 10:30 a.m. During the President’s Report, Hatfield explained the cooperative business model and benefits of being served by a not-for-profit electric utility. Hatfield also encouraged members to enroll in SECO’s Pennies from Heaven program. Hatfield stated, “Please help us support SECO’s great community outreach program Pennies from Heaven. SECO will round up your bill to the nearest dollar to help members in need of assistance and to support other local, worthy causes.”

 

CEO Jim Duncan took the stage for the CEO Report. Duncan led the crowd in a rousing military tribute and provided a cooperative business update that highlighted SECO’s continued growth, member satisfaction scores and system improvement projects.

 

Duncan overviewed current and future issues impacting Florida energy consumers. He spoke about SECO’s wholesale power provider Seminole Electric Cooperative and meeting future power needs. Duncan stated, “As SECO grows, our wholesale power provider Seminole Electric Cooperative must also keep up with our power demand. Seminole is removing one coal-fired unit and replacing it with a state-of-the-art natural gas fired unit that will come online in 2023. Seminole has finalized a deal to add 40 megawatts of solar to its mix and is considering the addition of another 300 megawatts of solar.”

 

Duncan continued, “These moves are environmentally friendly and provide a stable power supply for years to come.” Duncan explained the Board-recommended Articles of Incorporation amendment and Bylaws revision. Cooperative Attorney Lewis Stone led the voting process for the amendment and revision. Members voted overwhelmingly to accept both measures.

 

After the member votes, Hatfield concluded the meeting and the grand prize and door prize drawings began. U.S. Congressman Daniel Webster who serves Florida’s 11th District joined SECO on stage to draw the first grand prize winning ticket. Robert Morrill of The Villages won the gas-powered golf cart; Arnold A. Gomke of Tavares took home the 2009 Ford SuperCab 4×4; $1,500 in cash went to Robert James of Ocklawaha; Carolyn Hadley of Bushnell won the $1,000 cash prize and both Nancy Burgess of Summerfield and Phyllis Mullin of Ocala won $500.

 

Like” SECO’s Facebook page and “follow” @SECOEnergy on Twitter for news releases and cooperative updates.

SECO Energy Donates Bucket Truck to Lake-Sumter State College

SECO Energy is a Central Florida not-for-profit cooperative that is one of the top ten employers in Sumter County, offering competitive wages, generous benefits, a defined-benefit pension and a robust paid-time-off program. As a co-op, SECO Energy is also focused on community involvement and partnerships.

 

“Over a decade ago, SECO Energy recognized a private/public partnership potential with Lake-Sumter State College to train an important part of our workforce. SECO helped finance the inception of the college’s electric utility lineworker program, from which a number of our employees graduated,” said Jim Duncan, CEO.

 

The donation effort was led by SECO’s Manager of Safety & Risk Management Steve Balius. As the Chairman for Lake-Sumter State College’s (LSSC) Engineering Technology Advisory Committee and committee member for the Electrical Distribution Technology program, Balius knew the college’s aging bucket truck wouldn’t continue to prepare students for the world-of-work much longer. When he learned SECO was retiring a bucket truck from its fleet, he went to work connecting the dots. Balius is excited for the donation opportunity and stated, “I am thankful for the generosity of SECO’s Board of Trustees in approving the donation.”

 

Duncan stated, “Today, it is our pleasure to contribute again to the Lake-Sumter State College’s program by donating this bucket truck. It will provide hands-on, real-life experience to students earning their Associates of Science in Electrical Distribution Technology. This program helps SECO too. Line techs who have been with the company for 30 plus years are starting to retire. We want to replace them with local students who want to stay in the area, work for a competitive growing company and raise their families here. For that reason, we felt that breathing new life into our partnership with Lake-Sumter State College with the truck donation was a sound investment.”

 

“We are excited to receive this bucket truck donation from SECO,” said LSSC President Dr. Stan Sidor. “SECO is a strong local partner and this partnership allows us to enhance our EDT program’s ability to train and prepare our students and ultimately support the workforce and our community.”

 

Learn more about SECO Energy and its Concern for Community on our Community page. “Like” SECO’s Facebook page and “follow” @SECOEnergy on Twitter for news releases and cooperative updates.

Members Re-elect District 8 Trustee Bill James

On Thursday, February 1, members who attended the District Meeting voted to re-elect Bill James to represent District 8 on SECO Energy’s Board of Trustees. James became a SECO member in 2002 and was first elected to the Board in 2010.

 

SECO Energy is a not-for-profit electric cooperative, operated for and owned by its members. SECO members elect their fellow members to SECO’s nine-member Board of Trustees. Collectively, the Board represents the SECO membership, meeting monthly to monitor the financial status of the cooperative while providing fiduciary oversight and participating in policy decisions that serve the best interests of the members at large.

 

Members in District 8 gathered at The Manor at The Plantation at Leesburg to elect a District 8 Trustee for a three-year term. James has served on SECO’s Board for eight years, and ran unopposed.

 

James stated, “Thank you District 8 members for again electing me to serve on the SECO Energy Board of Trustees. I am privileged to continue my work with the cooperative, CEO Jim Duncan, SECO’s senior management team and my fellow Trustees. It is a pleasure to use my 50+ years of experience in the electric utility industry to make a difference in the quality and value of the electric service in the Central Florida communities served by SECO Energy.”

 

CEO Jim Duncan stated, “I congratulate Mr. James on his re-election and continued service to SECO members. Mr. James’ electric utility industry knowledge and experience is an asset to SECO’s Board. It is a pleasure to work with a Board that is member-focused and committed to the Cooperative’s success. I also extend my gratitude to our District 8 members who attended the meeting and participated in SECO’s democratic process.”

 

Duncan added, “I hope to see all of you at SECO’s Annual Meeting of the Membership in March. Enjoy breakfast and snacks, browse energy efficiency displays at the Energy Showcase and stay through the business meeting for the door prize drawing. This year, door prizes include a refurbished 2009 Dodge Dakota pick-up truck an electric golf cart, cash and more.”

 

SECO members are invited to the 80th Annual Meeting of the Membership on Saturday, March 24. Registration opens at 8:00 a.m., and the business meeting begins at 10:30 a.m. The meeting is located across the street from the corporate headquarters at 293 S. Highway 301 in Sumterville.

 

View a photo and brief bio of our Trustees along with an interactive District map. “Like” SECO’s Facebook page and “follow” @SECOEnergy on Twitter for news releases and cooperative updates.

SECO Earns Capital Credits from Gresco

SECO Energy’s customers are member-owners and SECO – like its members – is a member-owner of other cooperatively structured businesses.

 

GRESCO is one-such cooperatively owned business that is one of SECO’s premier partners. GRESCO is the cooperatives key utility supplier – the company stocks equipment and supplies to help SECO meet its ever-growing power demand.

 

On a yearly basis, SECO Energy returns/retires a portion of equity, called Capital Credits, to its members. Like SECO, GRESCO is structured as a not-for-profit cooperative and follows this practice as well. GRESCO returned a portion of SECO’s share of its margins to the cooperative in the amount of $152,929.

 

Todd McLellan, GRESCO’s General Manager Florida Division is proud of the partnership GRESCO has cultivated with SECO. McLellan stated, “Beginning in 2000, GRESCO and SECO have worked together to develop a long-term partnership. Right now, SECO is GRESCO’s largest equity owner.”

 

Jim Duncan, SECO Energy CEO stated, “GRESCO is one of our most valued and trusted partners. Because GRESCO is a cooperative like SECO, our partnership is even more special. As a not-for-profit electric cooperative, SECO Energy’s top priority is its members, and GRESCO shares that viewpoint as well.”

 

SECO Earns Capital Credits from Gresco, $52.4 Million

 

Duncan added, “Cooperation among cooperatives is a key cooperative principal. Two cooperatives working together – SECO and GRESCO – continue to strengthen the cooperative spirit.”

 

SECO Energy members receive Capital Credits from the cooperative as well. In November, SECO returned a record $5.1 million in Capital Credits to current and former members. Since inception, the company has returned more than $52.4 million to its members. Learn more about Capital Credits.

 

“Like” SECO’s Facebook page and “follow” on Twitter for news releases and cooperative updates.