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Rappahannock Electric Cooperative (REC) is not like other types of utilities. Our business model is based on the 7 Cooperative Principles. This is the third in a series of seven to remind our members-owner* * of these basic principles on which the business they own is operated.
Cooperative Principle #3: >.. (Members’ E&mimuc Participation) “Members contntnde Ajuiuibh to, and JanocnOkjOy coranJ, the capital of then aorperative. At least [tort of that capital is usually the common pmfieny <<j the cooperative. Member* usualh recent ImuteJccntfrnsanon, if miy, on capiiiil subscribed as a ixnJaion of msmbershp Members allocate . surpluses for any or all of the f< flowing purposes: desrLtpoig then cvoperatne, fx i\sa+t K setting up reserves, part of which at least would be mdtttstbie; benefiting rr.embers m proportion to their transactions wkh the cooperative; and suppermtg other <*tir tries jpfrnned by the membersiup ”
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