First Electric Cooperative held its annual membership meeting on Thursday at the company headquarters in Jacksonville. First Electric members, voting by mail-in ballot, re-elected Tom Hasty and Robert Maertens to serve six-year terms on the cooperative’s board of directors.
Hasty, of Almyra, has served on the First Electric and board for 37 years, representing members in parts of Arkansas, Jefferson, Lonoke, Monroe and Yell counties. He is a life-long farmer and the recipient of the 2009 John L. Gray Forest Conservationist of the Year award.
Maertens, of Benton, has also been on the First Electric board for 37 years and represents members in parts of Garland, Grant, Pulaski and Saline counties. Before retiring, he and his wife, Tamara, owned and operated a retail business in Benton. Maertens serves as secretary-treasurer of the First Electric board of directors.
Other members of the board include Robert Hill of Perryville, chairman; Larry Wood of Lonoke, vice chairman; Jimmie Crockett, Rose Bud; Peggy Cusick, Benton; Rick Love, Sherwood; David Luebke, Scott, and B.J. Swaffar, Quitman.
Don Crabbe is the cooperative’s president and chief executive officer.
First Electric’s 2010 annual report, which was recently mailed to all members, was reviewed at the meeting. The cooperative closed out 2010 with $407 million in total assets, $22 million in net margins and returned more than $5.5 million to its members in the form of capital-credit checks. The total amount refunded to members over the years now totals more than $48.9 million.
Also at the annual meeting, members who voted in the director election were eligible for prizes. The cooperative awarded five $200-bill credits and several electric appliances to participating members.
First Electric Cooperative has 224 employees and serves more than 87,000 member accounts in parts of 17 counties in central and southeast Arkansas. The cooperative maintains five full-service offices in Benton, Heber Springs, Jacksonville, Perryville and Stuttgart.
