One of the best investments a community can make is in education. That's why Cherokee County Electric Cooperative has awarded more than $110,000 in scholarships, in the past four years, to local students.
In 2019, CCECA awarded $1,000 scholarships to 20 area high school graduates and college students. The money used to fund these scholarships comes from unclaimed capital credits retirements. Electric cooperatives are different from investor-ownedutilities because we are member-owned, nonprofit organizations, and any income the co-op receives beyond expenses becomes the property of the members in the form of capital credits. When these capital credits are returned to the members, some of the money goes unclaimed and becomes property of the state. In 1997, the Texas Legislature passed a bill that allows cooperatives to use a portion of these unclaimed funds for economic development and scholarships. A committee of area residents is appointed by the CCECA Board of Directors to review applications and select scholarship recipients.This year, 20 students from the cooperative’s service areawere selected from among more than 50 applicants. CCECA is proud to contribute to the education of these students.