CFC Board Affirms Bylaw Amendment Proposal

At its February board meeting, CFC directors voted to approve proposed bylaw amendment language regarding changing the composition of the board. Days later, at its March 9 meeting, the NRECA Board of Directors passed a resolution supporting the CFC bylaw changes.

Chief among the proposed CFC bylaw updates are the following:

• Converting the two seats on the board appointed by NRECA to two at-large positions elected by the CFC membership.
• Naming one of the new at-large seats for Class B, or G&T, members.
• Designating the second new at-large seat for Class D, or national association, members.
• Both new at-large seats would be elected at the CFC Annual Meeting beginning in 2027.

The proposed changes accomplish several goals for CFC. They:

• Improve governance by ensuring all CFC directors are elected, rather than appointed, and are subject to the same term limits.
• Create more opportunity to have Class B members represented on the board, since G&Ts account for approximately 20% of CFC’s loan portfolio.
• Expand the range of experience and expertise on the board.

Members can watch a video that provides more detail on the proposed changes. 

All CFC voting delegates will have the opportunity to cast ballots on the proposed bylaw changes at the 2025 CFC Annual Meeting on June 30 in New York City. A packet of materials, including a redline version of the proposed bylaw changes and mail ballots for voting delegates, will be sent to members in May.

Members who have questions about the proposed bylaw changes should reach out to their CFC district’s directors.