CoServ Electric is a cooperative owned and overseen by the North Texas customers we serve (known as "Members").
Electric cooperatives were created under the Rural Electrification Act in 1936 to bring electricity to farm and ranch communities unserved by investor-owned utilities. The law allowed rural residents to incorporate under a cooperative model and receive low-cost loans from the federal government.
Today, more than 900 electric cooperatives in 47 states provide electricity across 56 percent of the U.S.
Cooperatives around the world generally operate according to the same core principles, and they trace these roots to the first cooperative founded in Rochdale, England in 1844. This is considered the birth of modern cooperatives because of the seven principles created to guide the co-op proved successful. The principles have evolved over the years, but no matter the industry, today all cooperative businesses adhere to them:
- Voluntary and Open Membership—Cooperatives accept any person able to use our services who agrees to the responsibilities of membership.
- Democratic Member Control—We’re governed by our Members. Those elected to the Board can actively participate in setting policies. Elected board representatives answer to the Member-owners. In the name of equality, each Member gets one vote at election time. (It doesn’t depend on your energy usage or your tenure with us.)
- Members' Economic Participation—Members contribute equally to, and democratically control, the capital of CoServ. The cooperative returns margins (profits) to Members in the form of Capital Credits.
- Autonomy and Independence—Cooperatives are independent companies controlled by our Members. If we enter into agreements with other organizations (including governments) or raise capital from external sources, we do so on terms that ensure continued democratic control by our Members.
- Education, Training, and Information—We teach and train our Members, Board Directors, Managers, Employees and the general public. Topics include industry issues, conservation, community involvement, safety and more.
- Cooperation Among Cooperatives—We serve our Members best by strengthening the cooperative movement and working together through structured groups such as Texas Electric Cooperatives (TEC) and the National Rural Electric Cooperative Association (NRECA).
- Concern for Community—We live in North Texas, too, and want to see our communities prosper. That’s why CoServ invests in worthy causes throughout our service area through the CoServ Charitable Foundation.