NCSC Members Elect Telecom Newcomer, 3 Electric Incumbents

NCSC held its 44th Annual Membership Meeting June 30 in New York City during CFC Forum 2025. NCSC Board President Cozy Nelsen, CEO for Iowa-based Guthrie County Rural Electric Cooperative Association, presided over the meeting. In her president’s report, Nelsen highlighted NCSC’s growth and transformation during its first full year of consolidated electric and telecom loans.

“As a cooperative organization, we know that NCSC’s loans represent far more than numbers on a balance sheet,” Nelsen said. “They represent trust in our organization to make a difference, whether that’s assisting our members with interim financing, long-term funding, leasing or custom financial requirements or a telecommunications financing need. No matter how specialized your financing need is, NCSC can craft a lending solution that works for you.”

Nelsen also provided an update on NCSC’s private placement subsidiary, Cooperative Securities, which continues to be a great benefit to members. In April, it successfully closed a $126 million private placement transaction for a Texas cooperative, with four investors participating in the transaction. She noted that Cooperative Securities has completed four private placement transactions totaling $1.07 billion since its inception in 2020.

Nelsen also highlighted some of the ways NCSC’s support for members goes beyond the balance sheet. Specifically, she pointed to the NCSC board’s approval in May of an allocation to the NCSC Cooperative Educational Fund Grant program of up to $123,000 for fiscal year 2026, which began on June 1. She also noted that NCSC is continuing to work with CFC to support statewide associations planning international electrification trips. To date, the International Matching Grant program has awarded more than $1 million to statewides to help support these life-changing missions.

NCSC Board Elections

NCSC members elected one newcomer and reelected three directors to the board at the NCSC Annual Membership Meeting (* reflects an incumbent). 

NCSC Class E Results

DISTRICT 2

Steve Rhodes*, CEO
Choctawhatchee Electric Cooperative (CHELCO) (FL)

DISTRICT 4

Kristina Bahr*, Trustee
Inland Power & Light Company (WA) 

DISTRICT 5

Jeremy Diller*, Board Vice President
Bandera Electric Cooperative (TX) 

NCSC Class T Results 

DISTRICT 4

Jimmy Todd, CEO and General Manager
Rural Telephone Service Company (Nex-Tech) (KS)