That’s the cooperative difference.
When you belong to an electric cooperative, you're not a customer. You are a member — and a co-op owner. Our members decide who governs the co-op, they receive a share of annual profits and they belong to an organization that's deeply involved in their community.
Bluebonnet is a nonprofit distribution cooperative. This type of co-op buys electricity from wholesale providers, arranges for its transmission and distributes the power to members through the co-op's power lines.
Bluebonnet's members are also owners. The co-op shares its excess revenue – money it collects above what is required to run the business – with its members. Similar to stock dividends paid to a company's shareholders, capital credits represent Bluebonnet's members' share of ownership in the co-op.
Members have a say in who leads Bluebonnet. That's because at our Annual Meeting every May they elect the people who sit on the 9-member Board of Directors.
Our Annual Meeting each May normally provides an opportunity for Bluebonnet members to gather for a festive event where they elect directors, hear a state of the co-op report, socialize and qualify for prize drawings.