Cullman Electric Cooperative - 2022 Annual Report

Cullman Electric Cooperative publishes its annual report for two reasons. First, it’s important for co-op members to have information and be aware of the critical issues and decisions the co-op is facing. Second, it provides accountability. Financial reporting and other key metrics show members that the co-op is well managed and the board of trustees and staff are being good stewards of the co-op’s resources.

Looking back over the past year, Cullman Electric Cooperative has much to be proud of. We added more than 700 new members, surpassing 46,000 member accounts for the first time in the co-op’s history. That growth has come with major challenges, as inflation and supply chain issues have made it hard to find the poles, wires and transformers, and other equipment necessary to meet our growing demand. It wasn’t easy, but we found a way to get the job done.  

At the same time, Sprout Fiber Internet has experienced tremendous growth, with more than 5,000 subscribers enjoying the benefits of gigabit-speed internet service. In less than two years since Sprout’s first in-home installation, thousands of co-op members are benefiting from a project the co-op started with two primary goals — to improve the quality of our electric service through better communication, and to give our members access to high-speed internet service that was not available in the communities we serve.        

As a co-op, our mission is to enhance the quality of life in our community and look after its long-term interests. Cullman Electric Cooperative did that in 2022, and we are excited about doing even more in 2023. We love serving our members and our local community, and just like you, we want to see it continue to thrive.