Members of Delta-Montrose Electric Association have an important decision to make this fall: the co-op has asked them to approve amended and restated Articles of Incorporation.
The Articles of Incorporation together form the founding document of DMEA. The DMEA board is proposing important changes to these articles that will allow the co-op to operate under Article 56, also called the Colorado Cooperative Act. This newer Colorado cooperative law gives DMEA more flexibility, including with financing options. DMEA turns 80 years old this year, and the board believes these proposed articles prepare the co-op for the next 80 years.
"DMEA is a forward-thinking and innovative cooperative," explained Jason Bronec, DMEA CEO. "Our goal with these changes is to make sure our governing document, the articles, lets us pursue those forward-thinking and innovative ideas. The proposed articles are modernized, streamlined, and would take advantage of Article 56, giving co-ops the ability to issue capital stock to investors. So, rather than relying on traditional loans or member equity (rates) to finance our projects, DMEA would also be able to secure funds by issuing stock.
"But even under the new articles, members -- and only members -- will be able to vote in DMEA elections. And only members will be able to sit on the DMEA board."
Members are encouraged to read the information statement that will arrive with their ballot and visit www.dmea.com/voteyes to read a full copy of the proposed Articles of Incorporation and review the frequently asked questions.
DMEA will also hold a set of informational town hall meetings in September, including:
Sept. 12 -- at Delicious Orchard, 39126 Highway 133, Hotchkiss. Presentation starts at 5 p.m.
Sept. 13 -- at Orchard City Town Hall, 9661 2100 Road. Presentation starts at 5 p.m.
Sept. 14 -- at DMEA Headquarters, 11925 6300 Road, Montrose. Presentation starts at 5 p.m.
Members will be asked to cast their votes on the proposed changes this fall. Mail-in ballots will arrive in late September. Mail-in ballots must be received by Oct. 12, or members may drop off ballots or vote in person at the special meeting of members on Oct. 16, 8 a.m. to 10 a.m. at DMEA headquarters, 11925 6300 Road, Montrose.
"This is a complex topic. I encourage our members to reach out and ask questions so they can make informed votes. If these changes pass, DMEA remains your member-owned co-op. We're still accountable to you. But, in order to remain a competitive, reliable, and cost-effective co-op, we ask you to vote yes," said Bronec.
DMEA is a rural electric cooperative serving approximately 33,000 residential, commercial and industrial meters, on more than 3,000 miles of power lines. DMEA has been powering the lives of its members since 1938 with the mission to energize and serve our communities. Learn more about the value of cooperative membership at www.dmea.com or by calling 877-687-3632.