You’re in good company with co-ops - South Central Power

South Central Power | South Central Power

You’re in good company with co-ops

December 2, 2016

Neighbors helping neighbors to create a better world

Electric co-ops build communityA fair question people often ask is, “What’s in it for me?” This makes sense, as we all need to act in our own self-interest every now and then. The cool thing about co-ops is that we answer the question, “What’s in it for me?” with, “This is what’s in it for we.”

When the market refuses to offer a good or service, or does so at such a high price, co-ops step in to fill the void. Cooperatives identify members of the community who have the same self-interests and bring them together to make a cooperative decision.

Eighty years ago, when South Central Power got started, the folks in our community shared at least one self-interest––they wanted electricity. In fact, many Americans who lived in rural parts of the country needed electricity, which is why electric cooperatives were formed. Individuals acted in their own self-interest, but that self-interest led to the community and economic development of the rural areas in which they lived. Today, rural electric co-ops serve over 42 million people in 47 states.

It is good to know that your friends and neighbor are also your co-owners of South Central Power. People coming together to meet a particular need is at the heart of every kind of co-op. Local credit unions bring financial services to people that banks do not want to serve. In urban areas and college communities, housing co-ops offer people a safe, reliable and affordable place to live. Many agricultural co-ops started as a way to get their products to market, whether it was oranges (Sunkist), dairy (Land O’Lakes), grapes (Welch’s), organic milk (Organic Valley) or any of the hundreds of other food products that co-ops bring to our table every day.

Many people who owned small businesses realized they too had a common self-interest: Stay in business. So they formed purchasing co-ops like Ace Hardware and True Value so they could compete with big-box stores like Home Depot and Lowe’s.

Today, it is estimated that more than 40 percent of all residents in the U.S. are members of at least one co-op. Worldwide, well over a billion people are counted as co-op members.

So every time you turn on (or off) the lights, it can serve as a reminder that as a co-op member, you are in good company with your local neighbors––and with people all around the world.