CFC is a values-based, financial services cooperative that enables our members, electric cooperatives, to deliver affordable and dependable electricity throughout more than half of the United States’ land mass, including the bulk of the nation’s rural communities. We provide them with the capital, industry expertise and consultative services they need to succeed in a dynamic environment, while strengthening the sustainability of their operations—an imperative that includes the adoption of renewable energy and, more recently, the deployment of broadband services.
The $400 million sustainability bond CFC issued in 2020, which is the first ESG bond issued for the electric cooperative industry, enables our members to initiate renewable energy and broadband initiatives at the lowest coupon ever issued by a utility for sustainability projects. The extraordinary value of the bond—and the fact that our members are using the capital to refinance previous projects and finance future projects—reflects the ongoing commitment of the nation’s electric cooperatives to enhance their environmental and societal contributions to the communities they serve.
“CFC and our member cooperatives are focused on providing essential services to rural Americans, including many underserved communities, which is a core principle of our business model. We are pleased to issue a second bond that will support the electric cooperative network and the communities it serves.”
Cooperatives throughout the world operate in general accordance with seven principles. Rooted in democratic ideals and designed to make efficient use of financial capital and business knowhow, these principles also compel cooperatives to advance the greater good.