Annual Report
From MJM President/CEO Chris M. Spears
and Board Chairman Robert Lehmann:
How electric cooperative's changed rural America
(Posted March 2013)
MJM Electric Cooperative’s Annual Meeting is scheduled for Saturday, March 16th. We had some fun last year with the “Going Green” theme since the Annual Meeting was held on St. Patrick’s Day. This year we have decided to use a “country western/farm” theme with a focus on how electric cooperatives have changed rural America.
It was on May 11, 1935 that President Franklin D. Roosevelt created the Rural Electrification Administration, otherwise known as the REA. At that time only 10% of rural America had electric service, and where it was available, it was not affordable. Investor-owned utilities refused to serve rural America, arguing that it wasn’t profitable. The cost to serve a few homes or farms per mile of line was prohibitive, they said, compared to the large number of homes and businesses that could be served off of a single mile of line in town. The REA provided low-interest loans to help form member owned and controlled not-for-profit electric cooperatives. As a result, MJM Electric Cooperative was organized on April 5, 1939, and the first lines were energized on April 11, 1940.
It has been said that nothing transformed rural America like rural electrification. It is difficult today to imagine life without electricity. When those unfortunate power outages occur, we are reminded just how much we depend on reliable electric service every single day. Electric cooperatives were established to empower the people so that they could have a better way of life. Because more work could be done on the farm once electrified, farm families could earn a higher income. A farmer giving witness at a Tennessee church in the 1940s stated, “Brothers and sisters, I want to tell you this: The greatest thing on earth is to have the love of God in your heart, and the next greatest thing is to have electricity in your house.”
MJM’s goal has always been to make life better for our member-owners, and we hope we are meeting and exceeding your expectations. It still costs more to serve rural areas, and the investor-owned utilities still don’t have an interest in building and maintaining a line in a rural area with 5.3 consumers per mile of line. Nonetheless, you can continue to count on your electric cooperative to be here for you today, tomorrow and into the future.
Good things are happening at MJM, and progress continues to be made. We hope you will take time out of your busy schedule to join us for the MJM Electric Cooperative Annual Meeting of Members on March 16th so that we can update you on your locally owned and controlled not-for-profit electric cooperative.
Prior to the business meeting, the Centennial Road Band will provide entertainment. There will be kids’ activities that will include bucket truck rides (weather permitting), miniature golf, a temporary tattoo station, games and more. We will also have some heating and cooling contractors at the meeting to answer your questions concerning more efficient heating and cooling systems, and an appliance dealer with a heat pump water heater on display. Trixie the “Leprechaun” won’t be there this year since we are not meeting on St. Patrick’s Day, but we expect Trixie the “Cowgirl” to show up as we have some fun with a county western theme. A free steak lunch will be served following the business meeting. So put on your blue jeans and cowboy boots, and come on out to grab some grub.
FINANCIAL INFORMATION
