Callaway Electric Cooperative was formed by the rural communities of Callaway and Southern Montgomery Counties with membership fees and Rural Electrification (REA) funds in 1936. The REA offered federal funds at 2% interest to all utilities, to take electricity beyond the cities. When nearby privately owned utilities would not serve rural areas, people came together to form cooperative businesses, taking the task upon themselves.
Callaway Electric is made up of more than 13,000 residential, agricultural, and small and large commercial meters. Our lenders include the Rural Utilities Service (RUS) and the National Rural Utilities Cooperative Finance Corporation (CFC). The RUS was created by executive order in 1994 to replace the REA program. Their interest rates fluctuate with the cost of money to the government. The interest rates for CFC loans vary with their bond market rating.
Members of Callaway Electric share ownership in electric lines and substations. The Cooperative's power is transmitted by Central Electric Power Cooperative in Jefferson City. Central purchases their power from Associated Electric Cooperative, the second largest power supplier in Missouri.
Callaway Electric holds an Annual Membership Meeting each February. At the meeting members can vote for directors, consider bylaw proposals, hear reports from the Board and manager, and visit with the Cooperative's Board and staff about any questions or concerns they may have regarding the Cooperative. The official meeting notice is typically included in the Cooperative's February issue of Callaway Electric Cooperative News.