About Us: The Cooperative Difference
FEM Electric, a Touchstone Energy Cooperative, is a member-owned electric distribution utility with a headquarters in Ipswich, SD. It serves over 2,100 residential, commercial, and industrial accounts in Faulk, Edmunds, and McPherson counties in northcentral South Dakota.
Touchstone Energy is a national alliance of local, member-owned electric cooperatives providing high standards of service to members large and small. More than 740 Touchstone Energy cooperatives in 44 states are delivering energy and energy solutions to more than 16 million members every day. Touchstone Energy cooperatives serve their members with integrity, accountability, innovation, and a longstanding commitment to communities.
Facts About FEM Electric (2015 Data)
2,063 miles of distribution lines (50% underground)
150,980,309 kilowatt hours sold
Average monthly consumption per residential consumer: 1451 kWh/ $178.48
Size of service territory: 3,500 square miles
kWh taxes paid to schools in 2015: $467,340
Meters/miles of Line: .97
The difference between FEM Electric Cooperative and other power companies is that we are "Owned by those we serve." Each person who receives service from this non-profit, member-owned electric utility is a member - and an owner of the cooperative.
Democratic Control of the Cooperative
Member owners have a voice in the direction the cooperative takes by participating in the voting process. Members have the right to vote on the leadership and directors of the Cooperative by electing directors and voting on bylaw changes. Each member has one vote. All members also have the opportunity to attend the annual meeting and learn more about what the Co-op is doing for you.
Although rates are set to produce a margin, all margins are allocated back to the members, based on patronage. The member's share of the margins is called a "capital credit." Members receive a patronage refund of these capital credits over a period of time that is in keeping with the policy and financial posture of the Cooperative.
Commitment to the Community
The Cooperative works with many schools, churches, community agencies and civic organizations to further our programs and goals. Through donations and in-kind services, the Cooperative plays an important part in the events and activities of communities throughout its entire service area.