News > October is Co-op Month

October is Co-op Month

October 14, 2024

Every October, cooperatives across the country celebrate National Co-op Month – a time to recognize and bring awareness to the value cooperative businesses bring to their members and communities.

Stearns Electric, like all cooperatives, follow the seven cooperative principles, which make cooperative businesses unique:

1. VOLUNTARY, OPEN MEMBERSHIP

Membership in the Cooperative is open to all persons who accept the responsibilities of membership, regardless of race, religion, gender or economic circumstances.

2. DEMOCRATIC OWNER CONTROL

Stearns Electric was founded by the members, for the members and remains governed by our member-consumers. Members have a say in the future of the organization by participating in the annual Board of Director election and by engaging in member surveys and events. 

3. MEMBERS’ ECONOMIC PARTICIPATION

Members contribute money to cooperatives to make sure they run smoothly now and into the future. At Stearns Electric, this happens through paying your monthly electric bill. Your bill doesn’t just pay for the electricity you use, it is also an investment in the distribution system (poles, wires and other equipment) that brings it to your home, farm or business. This investment ensures you have reliable electricity. 

At the end of the year, any leftover margins are allocated to you in the form of Capital Credits and distributed back to you over time. Learn more at stearnselectric.org/capital-credits.

4. AUTONOMY AND INDEPENDENCE 

Cooperatives are independent and can operate on their own, which benefits all members. No one knows better the needs of our communities better than the members who live in the same areas we serve. If you ever have a concern, you can call us or visit our offices to address it with a live person. If we ever enter into agreements with other organizations, including the government, or raise capital from external sources, we do so on terms that ensure democratic control as well as our unique identity.

5. EDUCATION, TRAINING AND INFORMATION 

Education and training are not only important for employees, but also for members, directors, legislative representatives and the public. We visit schools throughout our service territory, participate in local civic groups like chambers of commerce, and we share information online through our website and social media channels. When we can share resources and learn from each other, we can all effectively contribute to the development and success of Stearns Electric and our local communities.

6. COOPERATION AMONG COOPERATIVES

Cooperatives share with, learn from and help other cooperatives, too. By working together through local, national, regional and international entities, cooperatives can bolster local economies and can more effectively assist with community needs. Whether it’s collaborating with other cooperatives on mutually beneficial projects or helping each other out in times of need, we partner together to best serve our member-consumers and local communities. 

7. CONCERN FOR THE COMMUNITY

Cooperatives work for the greater good of the communities we serve. Stearns Electric’s economic development efforts help highlight our efforts to make Central Minnesota a great place to live and work. Additionally, our Operation Round Up® program supports local organizations and worthy causes, programs and events, and our My Co-op Cares program gives our employees opportunities to volunteer and make a difference in the community. We are proud to give back to our local communities to help them thrive and grow.