Cooperatives around the world adhere to the same set of seven cooperative principles that demonstrate our passion for serving our members and helping our local communities thrive. As the year comes to an end, this is the perfect time to reflect on these principles that have stood the test of time but also provide a framework for the future.
Voluntary and Open Membership
In 1940, Palmetto Electric was formed to meet a need that would have been otherwise unmet in our community. In order to improve the quality of life and economic opportunity for the entire community, membership is open to everyone in our service territory.
Democratic Member Control
Each member gets a voice and a vote in how the co-op is run, and each voice and vote are equal. Our co-op is locally governed, as PEC’s leadership team and employees live right here in the community. Our board of directors also live locally on co-op lines and have been elected by neighbors just like you. We know our members have a valuable perspective, and that’s why we are continually seeking your input and encourage you to participate in co-op elections.
Members’ Economic Participation
Our mission is to provide safe, reliable and affordable energy to our members. But as a co-op, we are also motivated by service to the community, rather than profits. Members contribute equitably to, and democratically control, the capital of Palmetto Electric Cooperative.
Autonomy and independence
The co-op operates in a way that is solely directed and guided by its members, reflecting the values and needs of our local community. The co-op is not being influenced by shareholders, but instead, the co-op is led by members from southern Beaufort, Hampton and Jasper counties.
Education and training
By investing in continuous learning, our co-op is making a commitment not just to individual professional and personal growth, but to the future of the co-op and the high quality of service our members expect and deserve. We also strive to inform members and the public about the mission and operations of the co-op. In fact, that’s why you receive this magazine every month, so we can share the latest co-op news and updates.
Cooperation among cooperatives
The best example of this principle is after major storms and disasters that cause widespread power outages. We call on nearby co-ops to come to our aid and assist with restoration efforts––and extend the same help to them when they need us.
Concern for community
We serve our community not only by being an essential service, but by helping to power our local economy. Whether through economic development, volunteerism or our programs like Operation Round Up, WIRE and Bright Ideas, we invest in this community because it’s our home too.
Because we are guided by the seven cooperative principles, it’s not just about dollars––it’s about opportunity for all and engaging with our members. On behalf of everyone at PEC, we’re thankful for your membership and hope you have a wonderful holiday season.