- Lower Yellowstone Rural Electric Association has an important position in Eastern Montana's and Western North Dakota's society and economy;
- the opportunities and responsibilities in this enterprise require and deserve a high level of performance by directors as well as all employees; and
- the individual and corporate relationships must be governed by the highest standards of conduct and ethics.
Seven Cooperative Principles
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.
Democratic member control
Cooperatives are democratic organizations controlled by their members who actively participate in setting their policies and making decisions. Men and women serving as elected representatives are accountable to the membership. In primary cooperatives, members have equal voting rights (one member, one vote). Cooperatives at other levels are organized in a democratic manner.
Member economic participation
Members contribute equally to, and democratically control, the capital of their cooperative. At least part of that capital is usually the common property of the cooperative. They usually receive limited compensation, if any, on capital subscribed as a condition of membership. Members allocate surpluses for any and all of the following purposes: developing the cooperative and possibly 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.
Autonomy and independence
Cooperatives are autonomous, self-help organizations controlled by their members. If they enter into agreement 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.
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 about the nature and benefits of cooperation.
Cooperation among cooperatives
Cooperatives serve their members most effectively and strengthen the cooperative movement by working together through local, national, regional and international structure.
Concern for community
While focusing on member needs, cooperatives work for the sustainable development of their community through policies accepted by their members.