Share in our Energy Community
One successful share offer for Teign School already under our belts.
Our members have received their first interest payments in Jan 2017
You can still become a Member and apply for up to 49 shares , see below
We welcome TECs Members at any time, no need to wait for a share offer- ‘Membership anytime’
New share offers will be launched around specific projects within Teignbridge when we are confident that these projects have a good chance of success. For the time being we are investigating new opportunities for both solar pv and LED lighting.
Here’s how you can become a TECs Member NOW:
By buying a minimum of 1 share (worth £1), you can become a Member. Please make sure you read the following terms associated with this option.
Your investment can be paid into our bank account below (be sure to include your name as reference).
- Bank account : Teign Energy Communities Limited (or TECs Ltd.)
- Co-operative Bank Plc ; sort code 08-92-99 ; account number 65783045
You can also pay this by cheque or cash to one of the TECs Directors.
You can apply for Membership either by entering your e-mail address on our website or filling in the PDF application form which you can print. You can also download a Word version, and fill this in. Ideally we’d like to do this on-line as it saves effort and costs which we’d prefer to use to fund community projects.
Once we confirm payment and Membership, we will reflect this in your on-line TECs Account which you can access any time (always keep one e-mail from TECs which has this personal link, if you lose it, just contact us).
You can of course also donate to TECs at any time, please contact us for more information.
Terms of Membership
Membership is open to individuals and organisations/groups who want to support TECs, its aims and objectives. We welcome Members as individuals, businesses, voluntary organisations, housing associations and institutions.
You become a Member by buying one or more £1 shares.
Shares are non tradeable and can only be redeemed at their £1 value by applying to TECs. All shares qualify for the annual interest which is only paid out when it accumulates to £5 or more. TECs aims to pay 4% above bank base rate for these shares for 20 years from 2016. However, the decision on the annual interest paid will be at the discretion of the Board of Directors.
It would help us if you can choose to donate your interest to our Community Fund. If you do not choose this option, we will contact you to complete additional information and terms in order to pay you the interest.
You can only buy up to £49 worth of shares as a one off application. You can still buy more shares, but you have to do this as part of a share offer.
- Members must be 16 years or older.
- Members must complete an on-line TECs Account which they can set up by entering their e-mail address on the TECs website. Each application for Membership must be approved by the Directors. Directors can choose to delegate this responsibility.
- Organisations/groups applying for Membership will need to name an individual to be their representative. The official representative will need approval from their organisation and comply with the Basic Rules 1&2 above.
Membership can be terminated by the Member should they wish to do so, or by TECs under certain circumstances listed in our Rules.
A Member may also be expelled for conduct prejudicial to the Society (please refer to the Rules covering this).
Repayment of Shares
As a Member you are entitled to request repayment of your shares. However, the decision will be at the discretion of the Board of Directors.
Register of Members
Members’ details will be held in a register managed by the TECs Secretary. This register and any information relating to Members will be held in accordance with the Data Protection Act 1998. We will not pass your details on to anyone else, we’ll just keep you updated with TECs news and status of your investment.
Membership Engagement and Communication
Our Rules state that “All Members agree to participate in general meetings and take an active interest in the operation and development of the Society and its business. Members have a duty to respect the confidential nature of the business decisions of the Society.”
Members can get involved in a wide range of activities including attending general meetings, events and other volunteering opportunities.
We want to make sure our Members are kept informed. If you cannot provided an e-mail address please contact us to discuss alternatives to electronic communications.