Haywood EMC, along with electric cooperatives across the country, operates according to the 7 Cooperative Principles. Each principle is a key reason that cooperatives operate differently from other electric utilities, putting the needs of their members first.

This month, Haywood EMC wants to share more about the third cooperative principle, Members’ Economic Participation. This means members contribute equitably to, and democratically control, the capital of their cooperative. At least part of that capital remains the common property of the cooperative. Members allocate surpluses for any or all of the following purposes: developing the cooperative; setting up reserves; benefiting members in proportion to their transactions with the cooperative; and supporting other activities approved by the membership.