Shelby Electric Coop Holds Annual Meeting

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Published on June 21 2016 3:02 pm
Last Updated on June 21 2016 3:02 pm
Written by Greg Sapp

Shelby Electric Cooperative Board Chairman Brent Lively told co-op members at their annual meeting that they are the owners of the co-op and as such have a say in how the co-op is run.

Lively told members the co-op is as important today as it was 78 years ago and continues to be a strong and viable source of power. He reminded members that the reason co-ops continue to exist today is because investor-owned utilities didn't see a profit from the low density of members per mile of line.

Lively said the board of directors continues to look for ways to improve the balance sheet. He explained ways the board has made cost cuts and that they are striving for a 50% equity standing.

The co-op members re-elected two trustees; Mark Lash of Findlay for District 3 and John Scott of Pana for District 6. 

(LEFT TO RIGHT: MARK LASH, JOHN SCOTT AND SHELBY COUNTY PRESIDENT/CEO JOSH SHALLENBERGER)

Shelby Electric President/CEO Josh Shallenberger said the co-op is building its balance sheet and has grown the equity from 28.63% at the end of 2006 to a near industry norm of 43% at the end of 2015.

During the meeting it was announced that Jade Bleskey of Lakewood, Mallory Westrick of Taylorville and Joanna Marley of Nokomis were the recipients of $1,000 scholarships from Shelby Electric.

Shelby Electric Co-operative serves about 9,900 meters over 2,200 miles of line in parts of Christian, Cumberland, Effingham, Fayette, Macon, Montgomery, Moultrie, Sangamon and Shelby counties.