NCSC Members Approve Bylaw Amendment Expanding Organization

NCSC held its 42nd Annual Membership Meeting June 19 in Seattle during CFC Forum 2023. NCSC Board President Deb Erickson, director for Minnesota Valley Electric Cooperative, highlighted some of NCSC’s project financing over the last fiscal year and provided an overview of the proposed NCSC bylaw changes.

“I’m pleased to report that NCSC is doing some exciting things to help our members, and some big changes may make the organization even stronger,” Erickson said during the President’s Report. “During the last several years, NCSC helped our members take advantage of expanded opportunities with renewables. NCSC closed five new project finance transactions that in total represented $135 million of committed exposure with most of the financing for solar.”

She also shared details about how a proposed bylaw amendment would pave the way to allow telecommunications borrowers to join NCSC and also let the organization take over the loan portfolio of Rural Telephone Finance Cooperative, an affiliate of CFC.

“The consolidated NCSC would be a larger organization with more loans outstanding, resulting in cost-saving efficiencies that are expected to lead to lower expenses as a percentage of loans outstanding,” Erickson explained.  

During the annual meeting, members overwhelmingly passed the proposal to amend the NCSC bylaws and returned two incumbents to serve three-year terms on the board. More information about the consolidation will be shared with members in the coming months.

DISTRICT 1

Steve Harmon, President and CEO 
Community Electric Cooperative (VA)

DISTRICT 3

Deb Erickson, Director 
Minnesota Valley Electric Cooperative 

New NCSC Board Officers Announced

Following the annual meeting, the NCSC Board of Directors selected the following officers for the coming year: 

PRESIDENT

Kathy Cooper-Winters, Board Chair 
Northwestern Rural Electric Cooperative Association (PA)

VICE PRESIDENT

Cozy Nelsen, CEO 
Guthrie County Rural Electric Cooperative (IA)

SECRETARY-TREASURER

Steve Rhodes, CEO 
CHELCO (FL)