REGIONAL COOPERATIVES LAUNCH JOINT NEW BUSINESS

Three regional cooperatives, Dubois Rural Electric Cooperative (REC), Perry-Spencer Rural Telephone Cooperative d/b/a PSC and Southern Indiana Rural Electric Cooperative (REC), recently announced the forming of a new company named Cooperatives ONE, LLC. This new entity does not replace any one of the cooperatives but will be a new, fourth business the other three will jointly manage and support.

“The creation of this new partnership,” explains Don Book, CEO of Dubois REC, “allows for the sharing of talent and resources to efficiently provide additional services to our customers in Southwest Indiana.”

Mike Hammack, the CEO of Southern Indiana REC agrees, “The new venture gives us the opportunity to work together to offer additional products and services to all our customers we could not offer alone. It lets us spread the risk and the rewards.”

Jim Dauby, President/CEO of PSC adds, “The primary formation of Cooperatives ONE was to create future opportunities for all three companies. Building lasting, strategic partnerships will play a vital role in all our futures.”

All three businesses are cooperative utilities where the members of the cooperatives are also the owners of the companies. Cooperatives ONE will be a Limited Liability Company (LLC). Utility cooperatives were created across the United States in the 1930s, 1940s and 1950s so residents of rural areas could band together to have electricity and telephones.

Dubois REC serves almost 13,000 electrical accounts in Dubois and Crawford counties, and parts of Orange, Perry, Pike and Martin counties. Dubois REC manages about 1,600 miles of electric lines and has its headquarters in Jasper, Indiana.

PSC serves over 7,000 telephone access lines, 6,000 long distance customers and 11,000 Internet customers in the counties of Perry, Spencer, Dubois, Pike, Warrick and Crawford. It is headquartered in Saint Meinrad, Indiana.

Southern Indiana REC serves about 8,500 electrical accounts primarily in Perry and Spencer counties, plus small areas of Dubois and Warrick counties. The cooperative has 1,500 miles of electric lines and has its office in Tell City, Indiana.

"Cooperatives ONE will begin marketing a new service this summer to the public in the counties we serve and beyond.  Please watch future issues of this publication or the local newspapers for further detail."