Five Trustees Re-Elected as South Central Power Company Conducts 82nd Annual Meeting
August 23, 2018
Results of the Board of Trustees election were announced at South Central Power’s 82nd annual meeting held August 16 on the campus of Ohio University – Lancaster. Re-elected to three-year terms were Mike Hummel of Canal Winchester, Reed Bailey of Lancaster, James Evans of Hillsboro, Kenneth Davis of Leesburg, and Michael Vinka of Cadiz. Voting was conducted online, by U.S. mail, and in person at South Central Power offices.
In his report to the members, Treasurer James Evans said the co-op had a strong year in 2017, and as a result, was able to refund nearly $9 million in capital credits to members and former members of the cooperative. As a not-for-profit electric cooperative, South Central Power regularly returns funds to members that are collected over and above the cost of doing business.
“Your cooperative returned back to the membership nearly $9 million of capital credit payments during the last year, and with member equity, or ownership, at 55% of total assets, your cooperative is in very good financial condition,” Evans said.
President and CEO Richard Lemonds announced a new initiative, called “Connecting our Cooperative,” a multi-year technology project that will increase reliability and improve service to South Central Power members. “We’re upgrading to new state-of-the-art technology that will help us serve you better,” Lemonds said. “We are investing in the communities where we live and work, and these changes will position your cooperative as a leader in our industry for the years ahead.”
Board Chairman Ken Davis discussed South Central Power’s participation in Project Ohio, a joint effort of the National Rural Electric Cooperative Association’s International Foundation and Ohio’s Electric Cooperatives (OEC). Three South Central Power employees, Brian Cope of Circleville, Brian Tucker of Canal Winchester and Alex Stull of Barnesville, were among the team that brought electricity to residents in the remote Guatemalan villages of Los Tortugas and San Jorge. The three men were recognized for their efforts as a part of the meeting’s program.
“We are proud to be the largest electric cooperative in Ohio, and one of the things we are most proud of from the past year was our participation in Project Ohio,” Davis said. “I want to thank Brian, Alex and Brian for their hard work that changed lives forever in Guatemala.”
South Central Power Company Foundation Chairman Don Jones also spoke to members. The 11-member Foundation board, which is separate from the cooperative’s board of trustees, awards grants and scholarships through Operation Round Up. The program rounds up participating members’ electric bill to the next dollar. Over the past four years, the Foundation has distributed more than $2.3 million to communities across the 24-counties served by the co-op.
“To most of us, our participation in Operation Round Up might be an extra nickel or dime,” Jones said. “But last year alone, we invested more than $532,000 back into the community. That’s a lot of nickels and dimes.”
As Ohio’s largest rural electric cooperative, South Central Power Company serves more than 118,000 homes, farms, schools and businesses in 24 counties. It operates offices in Lancaster, Canal Winchester, Circleville, Hillsboro and Barnesville.