Dear members,

Randolph Electric Membership Corporation was founded in 1938. This year marks our 85th year of existence. We are grateful to celebrate this rich heritage of service with you!

A lot of companies cannot say they have been around for 50 years. Even fewer can say they have existed for 75 years. But for 85 years, your local electric cooperative has consistently worked to put the needs of you, our member-owners, first.

Did you know that in 1938, many naysayers predicted that the electric cooperative model would not survive? They pointed to the financial difficulties of installing power lines over areas of low density. They said the lower revenues would not translate into adequate profits. That is precisely why for-profit power providers refused to serve our members. But this was not true of Randolph Electric.

For the past 85 years, our mission has been the same: to deliver energy and superior service in response to the needs of our members and our communities.

REMC has withstood the test of time. As we have steadfastly served you in the past, we plan to do so just as diligently in the future.

For the past 85 years, our mission has been the same: to deliver energy and superior service in response to the needs of our members and our communities.

In this 2022 Annual Report, we examine the present state of our cooperative by providing specific financials, industry trends and examples of our commitment to the community.

We’re pleased to announce our recent retirement of $2 million in capital credits. Since our inception, your cooperative has returned over $58 million into the pockets of our members. These are significant dollars and a demonstration of how our cooperative business model, established 85 years ago, is just as vibrant today as it was then.

What was true in 1938 is still true today. While much has changed over the past 85 years, our mission remains the same. We continue to value member-owners and put your needs first. As in the past, we will continue to strive every day to build a solid trust relationship between you and your cooperative.

Cooperatively yours,

Jerry Bowman, Board President
Dale F. Lambert, Chief Executive Officer