Grants are awarded to local governments and non-profit groups such as civic organizations, schools, volunteer fire departments, libraries, emergency medical services, museums and historical associations.
The goals of the CEP are:
Encourage economic diversity
Contribute to the health and development of a community to improve the attractiveness of the community to public and private enterprises
Improve the quality and/or quantity of services essential for the development of viable communities and economic growth, including services related to education, community planning, recreation, health care, public safety, employment, training or transportation
The program began in 2015 and is funded by unclaimed capital credits. It must be approved by the board annually. When credits remain unclaimed for three years they are given to the State of Texas. The state can give a portion of that money back to the cooperative to be used for economic development activities, scholarships and energy efficiency programs.