Canadian Valley Electric Cooperative, located in Seminole, and Central Rural Electric Cooperative, located in Stillwater, announced in September the two cooperatives have entered into discussions on how they can work together to create a more efficient electric distribution system.
The National Rural Utilities Cooperative Finance Corporation, more commonly known as CFC, was selected by the CVEC and CREC boards of trustees to complete a comprehensive study analyzing the compatibility of the two organizations.
This study will help determine the economic impact and savings that a potential consolidation would produce.
Initial reviews have shown the two cooperatives have many similarities.
A preliminary review indicated probable economic benefit and increased long-term membership value from the opportunities for economies of scale, increased financial strength, rate stability, elimination of duplicate services and additional operating efficiencies.
The CVEC and CREC boards of trustees encourage members and interested parties to visit, www.buildingourenergyfuturetogether.com, for the latest information about this collaboration.