How to become a member?
Kyegegwa Rural Electricity Cooperative society Ltd is an energy cooperative which was formed to operate and meet the needs of its members mainly focusing on electricity. The cooperative plans to engage in many more activities like purchase of products or services in order to benefits its members. As a cooperative, we operate in regular business to be successful. KRECS’s structure and democratic model of governance has led it to where it stands in the increase of the membership base to 500 and above.
Ownership and Control
Cooperative businesses are owned and controlled by members, not by absentee investors. The board of directors is elected from the cooperative’s membership to represent the interests of the members. The members are the users or consumers of the cooperative’s products or services. Unlike business ownership, which is based on the percentage of the business a person owns, cooperative ownership is based on how much of the products or services the member purchases. Members vote on all activities of the cooperative business. Cooperatives allot one vote to each member. A corporation allots one vote for each share, which means an investor may purchase many shares to gain many votes. Cooperative members may purchase one share of voting stock. Membership requires the voting stock and engaging in business with the cooperative
Members of cooperative businesses pay lower or stabilized prices for products and services because of the buying power of the cooperative. Businesses that sell to cooperatives may receive higher or stabilized prices for their products or services. Benefits are distributed to members based on usage of the cooperative’s products or services. A member who purchases 10 percent of the products or services receives a return of 10 percent in benefits. Cooperative business members also benefit from shared ownership, which results in shared risk, both liability and financial, and reduced expenses for operational costs. Members subscribe to Kyegegwa Rural Electricity Cooperative Society Ltd when they pay for the following: