Annual Report 2019: The Value of Membership

Membership Matters

Letter from the CEO

Stephen B. Hamlin, President & Chief Executive Officer

Being a member of a cooperative means being part of something special. We are different in that we are a member-owned, local, not-for-profit organization. This means we put our members first and when you put people over profits that’s when the special starts.

Special in that when we make more money than we spend, we return it to our members as capital credits. Special in that when a board member is selected, they are selected from the membership by the membership. Special in that when we offer a new program or service, we design it to be simple, convenient and to save you energy and money.

We’d love for every member to be fully invested in their membership and to understand all the value their membership entails. If you are not up-to-date on what your co-op is doing for you, this report is a good place to start. Let it serve as an update on the financial health of your co-op, the work we started last year, the projects we will be working on this year and as a springboard for better understanding your membership into the future!

Local Leadership

Board of Directors Message

Bill Barber, Chairman of the Board

One of the great advantages of your co-op is that it is local. We are governed, managed and run by people who call the surrounding communities home.

Your board of directors is made up of members from across Piedmont Electric’s service area, the linemen restoring power after a hurricane or ice storm often leave their families in the dark too, the member service representative you speak to on the phone might shop at the same grocery store as you.

Piedmont Electric is made up of people who want to see this area continue to be a great place to live, work and raise a family because it is the area they call home too.

As a board, our job is to give the cooperative the guidance it needs to ensure that Piedmont Electric best serves you, our member. This local control ensures that your best interest is always close to home.

We’re proud of the work Piedmont Electric completed in 2018, and it is with great pleasure that the Piedmont Electric Board of Directors and staff present the 2018 Piedmont Electric Annual Report.