2018 Annual Meeting Recap
Nueces Electric Cooperative celebrated its 79th Annual Meeting at the Richard M. Borchard Fairgrounds on October 11, 2018. Members and employees gathered together to celebrate their partnership with NEC and nearly 80 years of the co-op providing efficient, cost effective electricity to the Coastal Bend area.
When doors opened at 5:30pm, NEC members flooded the fairgrounds eager to participate in the event.1,500 members filled the arena to visit with family and friends, speak with directors and enjoy delicious barbeque.
“Each year we use our Annual Membership Meeting as our opportunity to come together and share our progress,” said NEC President Brian Menking, “Nueces Electric Cooperative has implemented new programs and reached members in more ways this year than ever before.”
Once members entered the arena, they made their way through the registration lines to register for their chance to cast their ballots for the Board of Directors election. Nominees for Director included District 3 Director David Rosse, District 5 Director Maxine Stewart and District 9 Director Juan Alvarado.
While members registered to vote, others sat down and enjoyed Howard’s Barbeque at the tables prepared by co-op event coordinators. A kid’s area was set up by Cuddles & Critters for children to enjoy activities such as arts and crafts, jumping with friends in an inflatable bounce house and a miniature petting zoo.
President Menking called the meeting to order by introducing Pastor Beverly Patterson of Saint Andrew Episcopal Church of Corpus Christi who offered the invocation. The U.S Navy color guard presented the American colors and Youth Tour Delegate Gracie Wernig then performed the national anthem. After reciting the national anthem and pledge of allegiance, Menking proceeded to recognize special guest and NEC employees.
Members were also able to learn about the growth of the company through the 2018 Annual Meeting video report. The video report highlighted key successes for NEC during 2017, including the speedy power restoration following Hurricane Harvey, as well as continuously improving safety records for NEC employees.
The total revenue for NEC was $11 million in 2017. It cost about $98 million to run the co-op. This resulted in a total margin of $13.2 million. Nearly half of the total margins, $6.2 million, were returned to members in the form of capital credits and NEC Co-op Energy power perks.
After counting all the votes, Board of Director and Assistant Secretary Treasurer Tommy Ermis announced the results: David Ross remains the Director of District 3, Maxine Stewart remains the Director of District 5 and Juan Alvarado remains the Director of District 9.
At the end of the meeting, Chief Retail Officer Frank Wilson and Chief Financial Officer Adriana Pena announced the winners for door prizes. The grand prize was a NEC Co-op Energy referral credit for $500 and a runner up referral credit of $250.