RECC’s 87th Annual Meeting Recap

Members of Rural Electric Convenience Cooperative gathered for its 87th Annual
Meeting in Springfield at Erin’s Pavilion, on Thursday, June 6, 2024. Attending members were awarded a
$15 bill credit, and all guests received a BBQ pork meal catered by Hy-Vee.

Secretary-Treasurer Jimmy Ayers read the official meeting notice, and began the financial report with
revenue and expenses for 2023. “The co-op ended last year with margins of $785,250,” he said. “We
have made great strides in managing our operating costs, used technology to improve productivity, and
increased overall efficiency.”

Board Chairman Chris Wilcox confirmed that RECC’s rates continue to be among the lowest of all Illinois electric co-ops. “Even
with the facilities charge increase in January, which was needed to satisfy lender covenants and keep
pace with higher equipment costs, our residential rates continue to remain competitive and affordable,”
he said. “This trend will continue with our long-term power supply contract with NextEra Energy,
ensuring stable wholesale power costs until 2033.”

President/CEO Sean Middleton shared the theme of this year’s meeting —
Safe, Reliable, Resilient and Affordable. “We at RECC believe that if the electricity and services we
deliver meet these criteria, then we are doing our jobs right,” he said. “I am also incredibly proud to
announce that this employee group recently passed a milestone back in May of reaching 3,000 days
without a lost-time accident. … Perhaps you saw in the Illinois Country Living magazine that our co-op
was awarded the 2023 Best Lost Time Rate Award by the Association of Illinois Electric Cooperatives,
and [that] Line Foreman Travis Boylen received the 2023 Individual Safety Leadership Award.”
Middleton also gave an example of the the co-op’s resiliency. “The storm last June is a testimony to that
resiliency. We had almost 30 poles knocked down and multiple spans in more than one region knocked
down, and yet, all outages were restored in 2 1/2 days,” he said. He also addressed broadband service.
“Your board of directors and I have been diligently researching pathways to help with this endeavor,” he
shared. “I have personally been involved in these types of projects both at my former co-op and in the
consulting business I worked in, and I know firsthand how it can change things for the better.”

During the meeting, Cooperative Attorney Jerry Tice conducted the election of directors; the three
candidates — Andy Goleman (District 7), Neil Bryan (District 8) and Cassie Eigenmann (District 9) — ran
unopposed and were re-elected to three-year terms. The membership then approved a proposed
amendment to the cooperative’s Articles of Incorporation that would provide additional flexibility for
the board to address competition and develop new services and programs for the cooperative.
Members also approved the proposed bylaw changes outlined in the Annual Meeting Notice.

The meeting concluded with drawings for several cash giveaways, including a $300 grand prize.