CoServ’s 2026 Annual Meeting includes $16M Capital Credit retirement announcement
CoServ’s Board of Directors voted unanimously to retire $16 million in Capital Credits to Members this year, Board Chairwoman Trisha Sheffield announced at the 2026 Annual Meeting Tuesday.
“Your Capital Credit retirement will appear as a credit on your August bill,” she said. “Returning Capital Credits is one of the greatest benefits of being part of a cooperative. At CoServ, margins belong to our Members, not shareholders.”
The amount of your Capital Credit retirement is dependent upon how long you have been a Member and how much electricity you purchase. Former Members will receive checks in the mail to the last known address.
Other highlights from the 2026 Annual Meeting include election results and an industry update from CoServ President and CEO Donnie Clary.
Pat Burns
District 2 Director
- District 2 Director Pat Burns ran unopposed and received 9,542 votes
- District 7 Director Chance Adair ran unopposed and received 9,562 votes
- The 2025 Annual Meeting minutes were approved, receiving 10,017 votes
Congratulations to Pat and Chance on their reelection. Their new term will be 2026-2030.
Chance Adair
District 7 Director
Pat Burns
District 2 Director
Chance Adair
District 7 Director
- District 2 Director Pat Burns ran unopposed and received 9,542 votes
- District 7 Director Chance Adair ran unopposed and received 9,562 votes
- The 2025 Annual Meeting minutes were approved, receiving 10,017 votes
Congratulations to Pat and Chance on their reelection. Their new term will be 2026-2030.
2025 Annual Meeting
Special Message from CoServ President and CEO Donnie Clary
CoServ President and CEO Donnie Clary talked about the cost pressures the electric industry is facing, specifically that distribution and transmission costs are rising statewide.
“For more than two decades, we’ve worked hard to manage those costs and operate efficiently to avoid rate increases,” Donnie said. “That longstanding stability is something we’re proud of. But as we all know, costs are rising across the board. Interest rates, groceries, gasoline and everyday essentials. And CoServ is not immune.”
Because of that, Donnie said that for the first time since 2001, CoServ will have to pursue a rate increase. Stay tuned for more details.