West Florida Electric Cooperative (WFEC) is a member-owned, member-governed cooperative. When the co-op was founded back in 1937, members of the community knew that we were a locally-owned business – likely because they or someone they knew played a part in helping found the cooperative. Over time as the novelty of receiving electricity waned, the founders passed on and new people moved into the community, people began viewing the electric co-op like any other energy provider.
But we are different! And the key to that difference is you, the member-owner of our cooperative. Without your support and commitment, we would not exist. That’s why our goal is to be the preferred provider of electricity and other services to our member-owners.
Research proves that when people own something they treat it differently, which is why we encourage WFEC members to embrace the fact they are an owner rather than a customer. As an owner, you play a critical role in our success. Each year our revenue exceeds our expenses providing patronage capital. The total amount of capital is allocated back to you and all member owners based on your percentage of the
total kilowatt hour purchases for the year. The patronage capital provides money to pay principal payments on debt, make a general retirement of capital allocated 26 years ago and to reinvest in electrical system upgrades and new lines construction. This is why we can say “owned by those we serve.” The accumulated patronage capital assigned to each member each year represents the total equity our member owners have in the cooperative.77308001
As a local business, we have a real stake in the community, just as you do. That is why we seek opportunities to engage with local organizations like Kiwanis & Rotary Clubs, and our local schools and other community
organizations. It’s also why we support community events like the Graceville Harvest Festival, Panhandle Watermelon Festival, Northwest Florida Championship Rodeo and many other local charities and events.
Our employees and their families live, work, and attend church and school in these communities. They also coach ball teams, work with volunteer associations and are actively involved in numerous ways in the communities we serve. While electric power is the commodity that your co-op sells, the real power is that together, we empower this local community and when people feel empowered they accomplish great things.
True, the world is different today than it was in 1937 when West Florida Electric Cooperative was founded, but our mission of serving you and our community is constant. Working together with your active, inspired
engagement, we can continue to accomplish great things.