The Central Electric headquarters (map) is located at 128 Wilson Road in Sanford, North Carolina. Key staff are available to meet member needs. General Manager and CEO Morris McClelion oversees the company, and a Board of Directors governs it. Nine directors are elected by Central Electric members at the annual meeting on the basis of one vote per member. The directors serve three-year terms before being eligible for re-election. 

Organized and chartered June 25, 1941 by friends and neighbors, the Co-op brought power to many who investor-owned utilities had told it was too expensive to expand power to their homes and farms. Now, more than 66 years later, Central Electric has grown to manage more than $59 million in assets.

Since Central Electric is not an investor-owned corporation, there are no stockholders in the company. Members are both the owners and customers and ownership is reflected through patronage capital credits. These credits are members’ share of what’s left over after all expenses of the Cooperative are paid. These funds are held in a special account for a period of time to keep Central Electric financially sound and to allow for emergencies such as storm damage. The money is also used to retire debts and build equity. When financially able to do so, Central Electric returns these patronage capital credits to members.

Central Electric is proud to be among the 26 other cooperatives in North Carolina providing energy to approximately 2.4 million people. Along with this statewide alliance, in 2000, Central joined Touchstone Energy®, a nationwide alliance of electric cooperatives designed to increase visibility, educate the public, and offer a broader range of products and services.