Co-op Annual Meeting
Scholarships given away to members
Thank You To All Members Who Joined Us For Our 84th Annual Meeting!
2022 Annual Meeting Was a Success!
Thank you to all of our members who joined us for our 84th Annual Meeting on Thursday, April 28, 2022, at the Wicomico Youth and Civic Center. It was a chilly, brisk afternoon. We were able to hold a live meeting this year and streamed it live for those that could not physically attend. The business portion of the 2022 Annual Meeting began at 6 p.m., registration and meal service started at 4:30 p.m. Thank you to all the vendors and volunteers that helped to put on this important meeting.
The business meeting was called to order by Board Chair Jeff Rathell followed by Craig Mathies giving a heartfelt opening prayer. A solemn moment of silence was given for long-time director Carl Widdowson and serviceman Gavonn Bailey, who both passed away earlier this year. Board treasurer Doug Scott reported on a strong financial year despite the pandemic. Among the highlights were revenues of $134.7 million and an operating margin of $6.2 million. Scott noted that the cost of purchased power constitutes about 54 cents of every $1 on the electric bill. During the business meeting, members voted to re-elect Board Members Matthew Holloway to represent Wicomico County, Amy Brandt to represent Caroline County and Donna West to represent Worcester County
CEO & President Mike Malandro reported to members that we have successfully continued our mission of providing affordable reliable electricity to the 55,599 member accounts we serve, and noted that we keep the power on at an outstanding 99.98% of the time. He then took questions and comments from the crowd.
At the meeting’s conclusion, ten $1,000 Luck of the Draw scholarships were awarded to ten well deserving students seeking higher education. Bill credits were also randomly awarded to very happy members. For more information about the 2022 Annual Meeting, call our Member Service Center at 1-877-892-0001.
View Recorded Livestream Below
Ten "Luck of the Draw" Scholarships Were Awarded at our 2022 Annual Meeting!
The application and registration period is closed for the 2022 school year, please check back regarding the 2023 school year.