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Created and Owned by America's Electric Cooperative Network
 

Member Success Stories

As the only lender created and owned by America’s electric cooperative network, CFC’s focus on electric cooperatives permeates everything we do. Check back for news and updates on how CFC is working with its member-owners to meet their financing needs.

Raypole

Ron Raypole

President and CEO, Noble Rural Electric Membership Corporation, Indiana

"Low interest rates along with our longstanding positive relationship with CFC made it the right time to become a 100 percent borrower. We were able to save our members more than $1 million through the move."
 

Indiana Cooperative Becomes Latest 100 Percent CFC Borrower

Noble Rural Electric Membership Corporation, Albion, Indiana, recently refinanced existing debt to become a 100 percent CFC borrower, the 13th from the Hoosier State. The cooperative’s management team made the decision as a way to strengthen the system’s access to future capital.

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tom_wolff

Thomas Wolff

CEO and General Manager, Columbia Basin Electric Cooperative, Oregon

"We have relied on CFC for numerous services over the years. Not just lending, but also strategic planning and financial forecasting. CFC has been a great partner, and we’re looking forward to building on that relationship."
 

Oregon Cooperative Latest to Sign On as 100 Percent CFC Borrower

Columbia Basin Electric Cooperative (CBEC), Heppner, Oregon, recently refinanced existing debt from another lender to become a 100 percent CFC borrower, the 12th from the Beaver State. The cooperative’s management team made the decision as a way to strengthen the system’s access to future capital.

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McClelion

Morris McClelion

General Manager, Central Electric Membership Corporation, North Carolina

"Our operating environment has changed a lot over the last few years. We’re looking at ways to be more efficient. We view our relationship with CFC as helping us do that."
 

Tar Heel State System Added to 100 Percent CFC Borrower Roster

Central Electric Membership Corporation in Sanford, North Carolina, recently refinanced outstanding debt from other lenders to become a 100 percent CFC borrower, the fourth from the state. The cooperative’s management team sees the decision as a strategic move to bolster lending efficiency.

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steve

Steve Marlow

CEO, East-Central Iowa Rural Electric Cooperative, Iowa

"With our previous lender, we were frustrated by the waiting and red tape. With CFC, the process was simple and much more efficient."
 

Hawkeye State Cooperative Comes Aboard as 100 Percent CFC Borrower

East-Central Iowa Rural Electric Cooperative in Urbana, Iowa, recently refinanced outstanding debt from another lender to become a 100 percent CFC borrower, the 13th from the state.

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TimPower

Timothy J. Power

CEO, DS&O Electric Cooperative, Kansas

"We had reached a point where we really needed nimbleness from our lender, and we see CFC providing that."
 

Sunflower State Cooperative Joins 100 Percent CFC Borrower Family

DS&O Electric Cooperative in Solomon, Kansas, recently refinanced outstanding debt from another lender to become a 100 percent CFC borrower, the eighth from the state.

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ray_ellis

V. Ray Ellis Jr.

General Manager, Lincoln Electric Cooperative, Montana

"The move is a natural extension of our work with CFC over the last several years. CFC has been involved with our strategic planning, and we use CFC software for budgets and cash flow projections. We want to focus on building equity, and we see CFC helping us do that."
 

Big Sky State Cooperative Now a 100 Percent CFC Borrower

Lincoln Electric Cooperative in Eureka, Montana, recently refinanced outstanding debt from other lenders to become a 100 percent CFC borrower, the fifth from the state. The current interest rate environment was a key factor in the cooperative’s decision.

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Spears

Chris M. Spears

Executive VP/CEO, South River Electric Membership Corporation, North Carolina

"We’re focused on not only meeting, but exceeding member expectations. Our commitment to our members has never been stronger than it is now."
 

South River EMC Signs On as 100 Percent CFC Borrower

South River Electric Membership Corporation in Dunn, North Carolina, recently refinanced outstanding debt from another lender to become a 100 percent CFC borrower, the third from the state.

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terry_romero

Terry Romero

Assistant General Manager and CFO, Overton Power District 5, Nevada

"We had been planning to return to CFC for all of our financing for a while because of the benefits. With interest rates as low as they are, this turned out to be the perfect year to do so."
 

Silver State Utility Becomes 100 Percent CFC Borrower

Overton Power District 5, Overton, Nevada, recently refinanced existing bond debt to become a 100 percent CFC borrower, the second time the system has worked with CFC exclusively. Overton Power District 5 first joined CFC in 2003 as a 100 percent borrower, but opted a few years later to finance the construction of new substations by issuing bonds itself.

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kansas

Doug Jackson

General Manager, Rolling Hills Electric Cooperative, Kansas

"Our growing relationship with CFC, coupled with the unprecedented low interest rate environment, meant the timing was right to become a 100 percent borrower."
 

Kansas Cooperative Added to 100 Percent CFC Borrower Roster

Rolling Hills Electric Cooperative in Mankato, Kansas, recently refinanced outstanding debt from another lender to become a 100 percent CFC borrower, the seventh from the Sunflower State.

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MattMiller

Matt Miller

Manager of Finance and Accounting, Utilities District of Western Indiana Rural Electric Membership Corporation, Indiana

"In addition to obtaining a lower overall interest rate by refinancing, we were able to save more than $3 million by shortening the maturity period over the life of the loan."
 

Indiana Cooperative Joins 100 Percent CFC Borrower Ranks

Utilities District of Western Indiana Rural Electric Membership Corporation, Bloomfield, Indiana, recently refinanced existing debt with another lender to become a 100 percent CFC borrower.

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JeffUmphlett

Jeff Umphlett

General Manager, Big Horn Rural Electric Company, Wyoming

"Every time we wanted an analysis done or had a question, CFC was quick to provide what we needed."
 

Big Horn REC Becomes 100 Percent CFC Borrower

Big Horn Rural Electric Company in Basin, Wyoming, recently completed the process of refinancing existing debt from other lenders to become a 100 percent CFC borrower. The distribution cooperative, which serves approximately 3,700 members across seven counties (five in the Cowboy State and two in Montana), started reviewing refinance options in October 2014 and finalized a buyout transaction with CFC in June.

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harmon_steve

Steve Harmon

President/CEO, Community Electric Cooperative, Virginia

"I know CFC is an organization that can be counted on to have the best interests of its members at heart."
 

Community Electric Becomes 100 Percent CFC Borrower

Community Electric Cooperative, Windsor, Virginia, recently worked with CFC to refinance existing debt from other lenders. The move will result in interest expense savings of more than $2 million, according to Community Electric estimates, and makes the distribution cooperative a 100 percent CFC borrower—the first in the Commonwealth of Virginia.

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Johnson_Diane

Diane Johnson

President and General Manager, Yampa Valley Electric Association, Colorado

"Working with CFC accelerates our ability to access funds when we need them—which ultimately saves YVEA time and money."
 

Yampa Valley Electric Becomes 100 Percent CFC Borrower

Yampa Valley Electric Association (YVEA) recently refinanced existing debt from another lender with CFC, becoming a 100 percent CFC borrower as a result. Through the deal, the Steamboat Springs, Colorado-based distribution cooperative expects an immediate reduction in interest expenses.

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alan_wattles

Alan Wattles

General Manager, Monroe County Electric Co-Operative, Illinois

"When we started weighing the possibility of refinancing, we realized we were only scratching the surface of what CFC could offer."


MCEC Becomes 100 Percent CFC Borrower

Monroe County Electric Co-Operative (MCEC), Waterloo, Illinois, recently completed the process of refinancing existing debt from other lenders to become a 100 percent CFC borrower. MCEC has been considering the move for years and began the refinancing process in October.

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Lowder

Chad Lowder

CEO and General Manager, Tri-County Electric Cooperative, South Carolina

"Our work with CFC allows us to function in a streamlined manner that can meet the needs of development as it happens."
 

Through Refinancing, Tri-County Becomes 100 Percent CFC Borrower

Tri-County Electric Cooperative, St. Matthews, South Carolina, recently worked with CFC to refinance existing debt from other lenders, reducing associated costs going forward. The move makes Tri-County a 100 percent CFC borrower.

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