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Mission Statement
Our Purpose

Mission Statement

Providing our members safe, reliable, and competitive services for today and tomorrow.

  

Core Values:

The Core Values are used to guide LREC's interactions with others as well as with one another as we live our purpose and move toward our vision of the future. Through these values, we will show how we value our member-owners and our employees while protecting our member-owners and our employees and our member-owner resources. These values are specific to LREC and work as guidelines for the Board of Trustees and employees to set strategic goals for the cooperative. While LREC has its own internal core values, it still adheres to the seven cooperative principles.

  1. LREC is community-minded
  2. LREC is responsive
  3. LREC is unified
  4. LREC is flexible
  5. LREC is innovative

Seven Cooperative Principles:

  1. Voluntary and Open Membership
    Cooperatives are voluntary organizations, open to all persons able to use their services and willing to accept the responsibilities of membership, without gender, social, racial, political, or religious discrimination.
  2. Democratic Member Control
    Cooperatives are democratic organizations controlled by their members, who actively participate in setting policies and making decisions. The elected representatives are accountable to the membership. In primary cooperatives, members have equal voting rights (one member, one vote) and cooperatives at other levels are organized in a democratic manner.
  3. Member Economic Participation
    Members contribute equitably to, and democratically control, the capital of their cooperative. At least part of that capital is usually the common property of the cooperative. Members usually receive limited compensation, if any, on capital subscribed as a condition of membership. Members allocate surpluses for any or all of the following purposes: developing the cooperative, possibly by setting up reserves, part of which at least would be indivisible; benefiting members in proportion to their transactions with the cooperative; and supporting other activities approved by the membership.
  4. Autonomy and Independence
    Cooperatives are autonomous, self-help organizations controlled by their members. If they enter into agreements with other organizations, including governments, or raise capital from external sources, they do so on terms that ensure democratic control by their members and maintain their cooperative autonomy.
  5. Education, Training, and Information
    Cooperatives provide education and training for their members, elected representatives, managers and employees so they can contribute effectively to the development of their cooperatives. They inform the general public, particularly young people and opinion leaders, about the nature and benefits of cooperation.
  6. Cooperation Amongst Cooperatives
    Cooperatives serve their members most effectively and strengthen the cooperative movement by working together through local, national, regional and international structures.
  7. Concern for Community
    While focusing on member needs, cooperatives work for the sustainable development of their communities through policies accepted by their members.