Over the last few months, I’ve heard from some of our most loyal, longtime members. They’re hearing a lot—in the news and online—and they want to know if their cooperative is in good shape. I love this question because it shows how much our members care. The answer is yes, your cooperative is in good financial shape and well-positioned to handle ongoing cost pressures and upcoming expenditures.

In 2025, Cherryland delivered one of its strongest financial performances in years. Our equity came in at approximately 43%, ahead of our own targets and above comparable utilities across Michigan. Think of it like the equity in your home—it’s the share of what you own that isn’t mortgaged. The stronger it is, the more financial flexibility you have when it matters most. Our margins are healthy for the same reason: Despite rising costs, we managed expenses tightly and invested where it made the biggest difference.

Strong equity and margins give us access to competitive interest rates for borrowing, which lowers the long-term cost of capital investments in your electric system. Just like your home finances, better borrowing terms means every dollar we invest on your behalf goes further. That matters more than ever.

Costs are top of mind for all of us. When financial pressure builds, it can be tempting to pull back on continued investment. I understand that instinct, but for a cooperative like ours, the responsible move is the opposite. Pulling back now means higher costs and lower reliability later. We’ve spent years building a strong financial position to maintain steady, purposeful investment even when the environment is hard.

This year, your board will consider a five-year capital investment plan that includes ongoing technology, reliability, and facility improvements. The goal is simply to keep doing what we do best: keeping the lights on. Cherryland members currently experience about one-third the power outages of the average Michigan electric customer. Consistent, purposeful investment got us here and it’s what will guide us into the future as well.

You asked if your cooperative is in good shape. Thank you for asking. That kind of engagement is exactly what makes a cooperative different. The answer is yes, absolutely—and it’s because we’ve made the kind of choices that put long-term service ahead of short-term ease.

These financial results represent more than a strong year. They represent years of disciplined decisions designed to keep your cooperative on strong footing so we can keep moving forward, for you and for the members who come after you.

You can see the full picture in the audited financials published in the annual report here.