Noble Rural Electric Membership Cooperative (REMC)—A Touchstone Energy Cooperative, has provided electric energy and other services to primarily a rural constituency for over 80 years. Ron Raypole is the president and CEO of Noble REMC.
The company was founded in 1936 in Albion, Indiana, where its headquarters are today. Although located in Albion, the cooperative considers its entire service territory as its community. Noble REMC is a leader in local economic and community development. Many of our employees and directors have been an integral part of many community organizations, garnering numerous awards for it. Most noteworthy is the Noble REMC Operation Round Up® Trust Fund, funded by consumers allowing us to round up their bill and using the combined contributions to support community organizations and projects. See the Operation Round Up® web page for details.
Founded as a not-for-profit cooperatively owned company, Noble REMC is governed by a 9-person elected board of directors made up of customers (who are members) of the REMC. Directors are elected on a rotating basis at our annual meeting.
Patronage capital refunds are one of the benefits of being a cooperative member. When Noble REMC is in a financial position to do so—as it has for many years, the member receives a refund check (typically in early December) representing the prorated amount between the actual cost of service and the margin for a given year. It is like having one share of the company. That sets us apart from investor-owned electric companies and municipal electric companies, operated by towns or cities.
As a Touchstone Energy Cooperative (www.touchstoneenergy.coop), we are among over 660 other rural electric cooperatives who have formed this organization and have pledged to maintain high expectations for customer service, integrity, accountability, innovation and community service.