Log in | Register |
StormCenter logo

Archive

Tag: SECO Energy Board of Trustees

CEO Jim Duncan Celebrates 40 Years with SECO Energy

CEO Jim Duncan is celebrating 40 years with SECO Energy. On June 10, 1979, Duncan joined SECO (then referred to as Sumter Electric Cooperative, Inc.) in the position of Director of Accounting and Finance. He held this position until March of 1990 when he accepted the position of Chief Executive Officer (CEO). As the leader of a not-for-profit utility, Duncan’s priorities focus on maintaining affordable, reliable service for the cooperative’s member-owners.

 

Over the years, Duncan has seen a lot of positive change, tremendous economic growth and vast system expansion. In 1990 before Duncan became CEO, the cooperative served 66,600 members. Today it provides service to more than 205,000 homes and businesses. Revenue has grown from $74.4 million to $293.7 million. Total utility plant has increased from $143.5 million to $878.7 million. Member equity has matured from 22 percent to 31 percent. The co-op regularly retires capital credits to members with a $5.5 million retirement last year and a $63.3 million returned since inception.

 

Duncan is humble about his role in leading the cooperative through some tough times and building the organization’s financial strength. He stated, “Our Board of Trustees are the people who are ultimately tasked with reviewing and approving budgets that keep our cooperative fiscally healthy. I credit the Trustees with exercising sound judgement and responsible governance over the years that has allowed SECO to become the third largest cooperative in Florida and the seventh largest in the nation.”

 

Another of Duncan’s key accomplishments is the significant reduction in outage duration for members. In 1989, members experienced 348 minutes of average outage time annually. Today, that number is only 66 minutes. Duncan attributes the improvement to the development of a robust vegetation management program, system improvement projects that increase reliability, a comprehensive storm hardening program and a workforce that cares deeply about its member-owners’ satisfaction. Duncan states, “Our current senior staff deserves the recognition for ensuring that the delivery of electric service is safe, affordable and reliable and that our members receive the highest level of customer service in the industry.”

 

Surveys show that SECO Energy members are very satisfied with SECO Energy. In 2018, members again rated the not-for-profit electric cooperative top in customer satisfaction. SECO received an outstanding ACSI score of 89. When comparing SECO to the ACSI Utility Sector scores SECO is a clear national frontrunner. Nationally, cooperative utilities scored a 77 in 2018. Scores for municipal and investor-owned utilities were both slightly lower at 75.

 

Members also rank SECO high in J.D. Power surveys as well. In 2015, SECO Energy was ranked highest in satisfaction among mid-sized utilities in the south, and in 2016 and 2017, SECO was ranked highest in satisfaction among cooperatives nationally.

 

Visit About SECO to learn more about the cooperative’s history. Like SECO Energy on Facebook and Twitter to stay up-to-date on company news, to play trivia and to enter prize drawings.

District 3 SECO Energy Members Elect New Trustee

On Monday, May 13, members who attended SECO Energy’s District 3 Special Meeting voted to elect Gerald B. Anderson to represent their District and the members at large on SECO Energy’s Board of Trustees. The Special Meeting to elect a new District 3 was held to fill the vacant Board seat. Mr. Anderson will serve the remainder of the term that ends in early 2022.

 

A SECO member for nearly five years, Mr. Anderson served in the Marine Corps and worked for a utilities manufacturing company. Mr. Anderson served as president of his hometown volunteer Fire Department, was elected to four six-year terms on the Board of Supervisors of Warrington, Pennsylvania and after retiring he was appointed as Director of Operations for Bucks County, Pennsylvania. He and his wife, Jane, enjoy making friends through their work with the Belle Aire Social Club in which Mr. Anderson serves as President and Mrs. Anderson serves as Secretary.

 

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 3 gathered at The Villages’ Savannah Center for the election and to hear a short update on the status of the cooperative. In total, eight members residing in District 3 submitted a letter of intent to run. In addition to new District 3 Trustee Gerald B. Anderson, the candidates who expressed their willingness to represent the members of District 3 were: Stephen M. Doran, Paul G. Embs, Barry R. Evans, Gary L. Jackson, Bryan T. Lifsey, Aileen M. Milton and Albert D. Uhryniak.

 

Mr. Anderson is eager to begin his duties as the new District 3 Trustee stating, “Thank you District 3 members for trusting me to represent you on the SECO Energy Board of Trustees. My previous experience in the utility industry will allow me to readily fulfill my new role in cooperative governance.”

 

Board President and District 9 Trustee Jerry Hatfield stated, “Congratulations, Mr. Anderson, on your election as District 3 Trustee. On behalf of myself and the Board, I am excited to welcome Mr. Anderson as our newest Board member.”

 

CEO Jim Duncan stated, “Congratulations to Mr. Anderson on his successful election as the new District 3 Trustee. The willingness of District 3 candidates to share their time, knowledge and energy to work for the SECO Energy membership is unprecedented. A Board of Trustees elected by its fellow members is a unique component of the not-for-profit cooperative business model and democratic process. I look forward to SECO’s continued success working with Mr. Anderson and our current Board members.”

 

Visit SECO’s Your Co-op page for photos and brief Trustee bios along with an interactive District map. “Like” SECO Energy on Facebook and “follow” @SECOEnergy on Twitter for news releases and cooperative updates.

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 Trustee Richard Belles Resigns

SECO Energy announced today that District 3 Trustee Richard Belles has resigned from the Board of Trustees. Belles was elected initially in 2013 and has been a SECO Energy member since 2001.

 

Per the SECO Energy Bylaws, the cooperative will hold a special District 3 Meeting in the near future to elect a new Trustee. District 3 members will be invited to the special meeting and provided with instructions about Trustee candidacy and the election via a District Notice letter.

 

SECO Energy is the third largest cooperative in the state and the seventh largest in the nation. At the end of 2018, the not-for-profit cooperative was delivering power to 205,887 service locations.

 

The reliability of SECO’s $878.7 million electric system remains stellar. In 2018, the cooperative invested $3.3 million per month to extend facilities to new members and improve reliability to existing members. The cooperative’s 2018 ACSI (American Customer Satisfaction Index) score rose to 89.

Members Re-elect District 5 Trustee Ray Vick

District 5 members gathered at Inverness Middle School on Thursday, February 21, to elect a member to represent their District on SECO’s Board of Trustees. The members elected Mr. Ray Vick who lives in Inverness and has been a SECO member since 1974. Mr. Vick was first elected to the Board in 1980.

 

SECO Energy is a not-for-profit electric cooperative, operated for and owned by its members. SECO members who reside in the District elect one of their fellow members to serve a three-year term on SECO’s nine-member Board of Trustees. Collectively, the Board represents the SECO membership at large. The Board meets 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.

 

In early February, Mr. Vick declared his continued willingness to serve the members in District 5 by submitting his letter of intent to run for Trustee. Joseph M. Judge of Inverness, Patricia A. Sandoval of Floral City and Chris L. Smith of Inverness also submitted letters of intent to run.

 

Trustee Vick stated, “Thank you, District 5 members, for re-electing me as your Trustee. I am humbly grateful for your long-standing trust in my service to SECO members. Serving on SECO’s Board is a rewarding experience, and I look forward to a new term.”

 

President Jerry Hatfield stated, “Congratulations, Mr. Vick, on your re-election as District 5 Trustee. SECO Energy is a fiscally responsible organization, and I know Mr. Vick takes his duties seriously in support of the members.”

 

CEO Jim Duncan stated, “First, I would like to thank the candidates from District 5 for their willingness to serve their fellow members on SECO’s Board of Trustees. It is gratifying to have such a strong show of support from members. Congratulations to Mr. Vick on his re-election.”

 

Duncan continued, “I hope members plan to attend our Annual Meeting on Saturday, March 23. We will be serving breakfast, coffee, soft drinks and snacks. Members can visit the Energy Showcase for energy-efficiency displays, enjoy live entertainment and enter for the chance to win door prizes. The grand prizes this year are a refurbished 2009 Ford SuperCab 4-wheel drive with less than 60,000 miles, a golf cart, cash and more. Read the upcoming March edition of SECO News for a full list of all door prizes.”

 

Visit the Board of Trustees page to view a photo and brief bio of SECO’s Trustees along with a District map. “Like” SECO’s Facebook page and “follow” @SECOEnergy on Twitter for news releases and cooperative updates.

Members Re-elect District 3 Trustee Richard Belles

SECO Energy District 3 members gathered at The Villages’ Savannah Center on Thursday, January 24 to elect a Trustee to represent their District on SECO’s Board. Members voted to re-elect District 3 Trustee Richard Belles. A SECO member since 2001, Mr. Belles was first elected to the Board in 2013.

 

SECO Energy is a not-for-profit electric cooperative, operated for and owned by its members. SECO members who reside in the District elect one of their fellow members to serve on 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.

 

In January, both Mr. Belles and fellow District 3 resident Bryan Lifsey declared their willingness to serve the members in District 3 by submitting letters of intent to run. On the afternoon of January 24, a large crowd assembled in the Savannah Center to elect a District 3 Trustee for a three-year term.

 

Trustee Belles stated, “Thank you District 3 members for choosing me as your Trustee. I am humbled and honored by your support and trust. It is a pleasure to work on your behalf with my fellow Trustees, and I look forward to continuing my Board service.”

 

President Jerry Hatfield stated, “Mr. Belles’ Board service has had a meaningful impact on SECO’s improved reliability, financial stability and customer service recognitions and success. I congratulate him on his re-election and I look forward to his assistance in serving our fellow SECO members.”

 

CEO Jim Duncan stated, “Congratulations to Mr. Belles on his re-election and thank you District 3 members for participating in your District Meeting. SECO’s Board of Trustees is an important piece of the cooperative process. They are a fiscally responsible group who is very supportive of SECO, its members and employees. I am grateful for our Board’s fiduciary guidance and oversight, and their collective knowledge of the utility industry.”

 

Duncan continued, “I hope members plan to attend our Annual Meeting on Saturday, March 23. We will be serving breakfast, snacks, visit the Energy Showcase for energy-efficiency displays, enjoy live entertainment and the chance to win door prizes. The grand prizes this year are a refurbished 2009 Ford SuperCab 4-wheel drive with less than 60,000 miles, a golf cart, cash and many other prizes.”

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

SECO News, November 2018

DUNCAN’S DIGEST

 

CAPITAL CREDITS

 

They say money doesn’t grow on trees, but as a member, your 2018 Capital Credits retirement has sprouted and arrives in your November bill.

May 2018 SECO News Duncan's Digest

 

You, along with 200,000+ residents are members of a not-for-profit cooperative founded in 1938 as Sumter Electric Cooperative with just 500 members. Things have changed over the years. Those meager roots planted 80 years ago have thrived.

 

Your membership branches into ownership through energy purchases – the proverbial fertilizer of patronage capital. Ownership is defined through the annual process of allocating each member’s share of the co-op’s margins from the prior year. The annual amounts for each member who purchases electric service during the year are referred to as Capital Credit allocations.

 

Capital Credits are the accumulation of all prior year’s revenue after the co-op’s operating costs and expenses are paid. These credits are allocated on a pro-rata basis to each SECO Energy member’s account as Capital Credits.

 

During its October meeting, SECO’s Board of Trustees approved a record $5.5 million to be returned (retired) to members. Since SECO’s inception, the co-op has retired more than $63.3 million to current and former members. This year’s Capital Credits return is rooted in sound financial stewardship by SECO’s Board, the leadership team and our dedicated employees.

 

Each member receiving a 2018 Capital Credits retirement will see the amount on their spruced-up November billing statement listed as a line item labeled “Capital Credits Ret.” Business members with retirements over $1,000 will receive a check. If you move out of SECO territory, keep your mailing address updated so we can send future Capital Credit retirements.

 

Sincerely,

 

Jim Duncan

Chief Executive Officer

 

 

 

SECO Champions November 2018
Meet two SECO Champions – Melissa and Matthew – two examples of our 400+ SECO Champion employees. Melissa and Matthew are dedicated to providing exceptional service to members, co-workers and communities.

 

MELISSA LACASSE – SYSTEM CONTROL COORDINATOR

 

LENGTH OF SERVICE – 25 YEARS

 

“My job is awesome.”

 

 

SECO Champion Melissa Lacasse is a System Control Coordinator at our SECO Headquarters who is responsible for monitoring the power delivery to SECO’s over 200,000 members. SECO’s System Control Coordinators work shifts around-the-clock, 365 days a year directing line technicians to service calls throughout our 2,100-square mile territory. Melissa and her family (her husband Ken is also a SECO employee) are long-time residents of Marion County. They enjoy football, boating and spearfishing. During Melissa’s 25-year SECO career, she has worked as a Member Services Representative, Meter Reader, Line Technician and a System Control Coordinator. “At SECO, we are a tight-knit group, whether at work or in the communities we serve. My family was thrilled when SECO hired me, and it is a blessing to work at SECO.”

 

MATTHEW DIXON – SERVICE TECHNICIAN

 

LENGTH OF SERVICE – 12 YEARS

 

“I enjoy helping people.”

 

 

SECO Champion Matthew Dixon is a Service Technician who responds to service calls and works to restore members’ power safely. Matthew’s work area covers Bushnell, Inverness, Lady Lake, The Villages and Webster. Originally from Dallas (yes, he’s a Cowboys fan), he moved to Central Florida in 1991 and joined the SECO team in 2006. Matthew, his wife, five children and 15 grandchildren attend church together where he plays bass guitar. Matthew credits his enjoyment of helping people as the reason he became a SECO Line Technician. He is prepared to respond to outage calls day or night and the appreciation he receives from members keeps him going. Watch Matthew’s video on our YouTube Channel to learn how he got the nickname “Hollywood.”

 

 

 

Safe Decorating November 2018 SECO News

SAFE DECORATING

 

‘TIS THE SEASON to spread goodwill and cheer while impressing your neighbors with your Christmas creativity.

 

For your safety, SECO prohibits Christmas décor or other attachments on its poles or decorative lights. Never place a ladder against a SECO area light or pole – you can damage the pole or suffer an electric shock.

 

Please share your Christmas joy with your neighbors, but refrain from including SECO facilities in your festive design. Decorate safely this season – Merry Christmas!

 

 

 

Holiday Energy Efficiency November 2018

HOLIDAY ENERGY EFFICIENCY

 

The holidays are just around the corner which means extra baking and cooking, along with holiday decorations. Don’t forget about energy efficiency while you are celebrating your families’ holiday traditions.

 

When baking, resist opening the oven door. Each time the door opens, the oven’s temperature can drop as much as 25 degrees which can add cooking time. Another tip – if a recipe calls for baking time over one hour – don’t waste the time and energy it takes to preheat the oven.

 

Most of us love bright, twinkling holiday lights – be sure to choose LEDs. These are more efficient, last longer and are safer than older incandescent lights. LEDs use less energy and produce less heat than standard incandescent lights.

 

Here’s to a happy, healthy, energy-efficient holiday season!

 

 

 

Toys for Tots SECO News November 2018

TOYS FOR TOTS

 

Would you like a chance to play Santa for local children in need of Christmas gifts? SECO Energy’s five Member Service Centers are available to the public as U.S. Marine Corps Reserve Toys for Tots Program drop-off locations.

 

Join the SECO crew in donating a new, unwrapped toy or two for Toys for Tots at a Member Service Center in Eustis, Groveland, Inverness, Ocala or Sumterville. SECO will gather toys through the first week of December.

 

As a not-for-profit electric cooperative, SECO is dedicated to the communities it serves. Our employees are ever-so-generous in their support of Toys for Tots and other community endeavors for which they volunteer their personal time. Thousands of children will wake up to presents under the tree on Christmas morning thanks to our employees’ and members’ giving spirit.

 

Read the full November 2018 SECO News online.

SECO Energy District 7 Members Elect New Trustee Joseph E. Kusiak

On Thursday, October 25, members who attended SECO Energy’s District 7 Special Meeting voted to elect Joseph E. Kusiak to represent their District and the members at large on SECO Energy’s Board of Trustees. The Special Meeting was held in the District to fill the Board vacancy after former Trustee Rob Henion resigned in August.

 

Originally from Massachusetts, Mr. Kusiak and his wife, Carmen, became SECO members after moving from Bronson to Dunnellon in 2002. Mr. Kusiak is an attorney, who has over 30 years of military experience – in the Army and the Air Force. Mr. Kusiak holds a Bachelor’s Degree in Math from American International College, and a Juris Doctor Degree in Law from New England School of Law.

 

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 7 gathered at the Rainbow Lakes Estates Community Center in Dunnellon to elect a new District 7 Trustee to serve the remainder of Mr. Henion’s three-year term. In September, Reverend Harold N. Damon from Ocala and Mr. Joseph E. Kusiak from Dunnellon both submitted a letter of intent to run, and expressed their willingness to represent the members of District 7.

 

Kusiak stated, “District 7 members, thank you for your votes and for trusting me to act as your District 7 representative on the SECO Energy Board of Trustees. I am looking forward to what I believe will be a new, interesting experience as a SECO Trustee. My wife and I enjoy attending SECO’s Annual Meeting, the employees do a great job and I am excited to lend the SECO team a hand through my Board service.”

 

CEO Jim Duncan stated, “I congratulate Mr. Kusiak on his successful election and I also want to thank Reverend Damon for his willingness to serve as well. With the Board’s guidance, SECO has enjoyed a decade of improved reliability, highest member satisfaction ratings, a high growth rate and strong financial results. Mr. Kusiak is a welcome addition to the Board, and I look forward to working with him and our current Board members.”

 

Visit Your Co-op page online for photos and brief bios of the Trustees along with an interactive District map. “Like” SECO’s Facebook page and “follow” @SECOEnergy on Twitter for news releases and cooperative updates.

SECO Energy Board Compensation Statement

SECO Energy was founded in 1938 as Sumter Electric Cooperative, Inc., a small not-for-profit rural electric utility serving a few hundred folks in the Webster area. Over the years, sound financial management, appropriate governance policies and economic growth in Central Florida have resulted in the cooperative doing business today as a fiscally sound SECO Energy with a membership of more than 205,000 residents and business owners across seven counties.

 

Cooperatives in Florida are legislated by Florida Statute Chapter 425. Not only is SECO Energy in full compliance with the Florida statute, the cooperative also adheres largely to Florida Public Service Commission guidelines developed for investor-owned utilities (although cooperatives are not technically required by statute to do so). SECO also files its rate tariffs for approval and emergency response plan outline annually with the PSC.

 

SECO Energy’s member-elected Board of Trustees are fairly compensated for their service and the cooperative’s election guidelines make it easy for an interested party’s name to appear on the ballot. A potential candidate simply notifies SECO in writing of intention to run. No signatures or nominations are necessary.

 

The potential Trustee candidate must reside in the District, cannot be closely related to another Trustee or employee and must meet very general eligibility requirements per the SECO Energy Bylaws. In fact, four of the nine current Trustees have been elected to the Board in the last eight years. The cooperative encourages election participation at District Meetings and holds an Annual Meeting as required by Florida Statute. In 2018, SECO Energy’s Annual Meeting drew a crowd of nearly 7,000.

 

Once elected, Trustees are compensated for each monthly Board of Trustee meeting. The amount covers meeting attendance and the study time needed to prepare for Board meetings. The compensation is standard for this region and for a Board responsible for governance and the financial oversight associated with a company of this size with $855 million in utility plant. SECO Energy is the third largest cooperative in Florida and the seventh largest in the nation.

 

SECO Energy Trustees are not provided with company-paid health, dental or vision insurance or pension/retirement benefits. Trustees are encouraged to participate in trainings and conferences to provide the education needed to govern and oversee the utility.

 

For trainings/conferences, transportation type and dates/time is limited to the most economical. Overstaying of training/conference dates at company expense is not permitted. The cooperative’s policies prohibit the coverage or reimbursement of spouse or family member travel or entertainment expenses if they accompany a Trustee to a conference or training.

 

Board meeting dates and times are published two months in advance in our monthly edition of SECO News which is mailed with billing statements and posted on social media and SECOEnergy.com. Members are welcome to attend any meeting in its entirety (with the exception of executive sessions) and can examine the minutes of any past board meeting. Board of Trustee compensation records are released publicly as required in the cooperative’s Form 990. The cooperative publishes an Annual Report as well. SECO Energy is an award-winning utility in customer satisfaction.

 

SECO Energy has retired Capital Credits regularly as a true not-for-profit electric cooperative should. Capital Credits are the accumulation of all prior year’s revenue after the co-op’s operating costs and expenses have been paid. These credits are allocated on a pro-rata basis to each SECO Energy member’s account as “Capital Credits” and represent a portion of the member’s patronage with the cooperative in the prior fiscal year.

 

During its September 2017 meeting, SECO’s Board of Trustees approved a record $5.4 million Capital Credits retirement to be returned (retired) to members. Since SECO Energy’s inception, the co-op has retired more than $57.8 million to current and former members. Capital Credits returns are made possible by the sound financial stewardship of SECO’s Board, leadership team and flock of dedicated, cost-conscious employees. The cooperative anticipates (with Board of Trustee approval, of course) another healthy Capital Credits retirement at year end 2018.

SECO Energy Board of Trustees Elects 2018 Officers

SECO Energy’s Board of Trustees elected its 2018 officers during the regularly scheduled Trustees’ Meeting on Monday, April 23. The Board voted District 9 Trustee Jerry Hatfield as President; District 4 Trustee Richard Dennison as Vice President; and District 8 Trustee Bill James as Secretary-Treasurer.

 

SECO Energy Board of Trustees Elects 2018 Officers

 

As a not-for-profit electric cooperative, SECO Energy is operated for and owned by the members it serves. 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.

 

Board Elected Officers 2018

 

Newly elected President Hatfield is a long-time Lake County resident, and became a SECO member in 1971. Hatfield has represented District 9 members on SECO’s Board of Trustees since first being elected in 2000. Mr. Hatfield was re-elected as District 9 Trustee in February 2018, and most recently served as Vice President.

 

District 4 Trustee Dennison elected as Vice President has been a member since 1999, and was first elected to the Board of Trustees in 2015 when a former Trustee stepped down. Dennison was re-elected as District 4 Trustee in February 2017.

 

A SECO member since 2002, Secretary-Treasurer James resides in Leesburg, and was first elected as the District 8 Trustee serving on SECO Energy’s Board in 2010. James was re-elected District 8 Trustee in February this year.

 

Hatfield stated, “I would like to thank my fellow Board members on my election as President. Serving SECO members as a Board of Trustee is a distinct honor, and I appreciate the trust my fellow members have placed in me and my peers to govern our Cooperative. I eagerly assume the duties of President and look forward to continuing my Board service.”

 

Visit our Board of Trustees page for photos and brief bios of the Trustees along with an interactive District map. “Like” SECO’s Facebook page and “follow” @SECOEnergy on Twitter for news releases and cooperative updates.