Parke County REMC Builds New HQ Facility Financed by CFC

In late April, Parke County Rural Electric Membership Corporation (REMC) employees moved into their new headquarters facility, approximately 4 miles from the electric distribution cooperative’s former site in Rockville, Indiana. CFC was pleased to provide short- and long-term funding to finance the facility.

Serving just over 12,500 meters across parts of six counties in west-central Indiana, Parke County REMC had been working out of four buildings at three separate locations within the town of Rockville.

“We had been in the old facility since 1947 and were outgrowing our space,” Parke County REMC CEO Chadd Jenkins said. “Bucket trucks alone had greatly increased in size over the past several years. When the Town of Rockville approached us in the summer of 2021 about purchasing our facilities in town, we saw that as an opportunity to consolidate all of our operations under one roof, while also benefiting the town for their project—a win-win for both parties.” 

The town plans to move its city hall, utilities, building permitting office, fire chief/inspector and police department to the cooperative’s old location. 

In addition to enabling Parke County REMC to consolidate all of its employees, operations and equipment in one location, the new, modern building is more centrally located within the cooperative’s service territory. 

“Being more centrally located means shorter distances to the furthest areas of our service territory, providing quicker response times for outages and other services,” Jenkins said. 

Further enhancing efficiency, employees are now better organized by department within the new facility, making interactions quicker and easier. The building also has a multipurpose room spacious enough to accommodate all employees for meetings and training sessions, addressing a previous lack of a large meeting space.

To improve service to members, a drive-thru was added, with a payment drop box for after-hours convenience. This also makes it safer for members since they do not have to exit their vehicles in bad weather.

An added benefit is that electric service at the new facility is provided by Parke County REMC, while the old building was served by Rockville’s municipal utility.

Energy Efficiency Was a Key Design Component 

“Prioritizing energy efficiency for long-term savings was a key focus in the design of our new building,” Jenkins said. “We incorporated several features, including geothermal heat pumps and mini-split heating and cooling systems, a heat-pump water heater and in-floor heating in the warehouse. Additionally, we installed an energy recovery ventilator with a heat and humidity exchanger to provide fresh air ventilation. The building also has interior LED lighting with motion sensors and programmable exterior lighting, enhancing both efficiency and convenience.”

Two, level 2 chargers were installed for the cooperative’s electric vehicles. As a result of these energy-saving installations, Parke County REMC received $25,000 in Power Move rebates from Wabash Valley Power Alliance, the cooperative’s generation and transmission cooperative.

CFC Provided Financing

CFC provided long-term financing for the roughly $8 million building project, which supplemented a line of credit for variable construction expenses. 

“With the low interest rates in 2022, we chose a hybrid strategy to diversify risks, utilizing both fixed and variable notes to benefit from the low rates while preparing for possible fluctuations,” Jenkins said. “We took out loans before construction started to lock in the favorable rates and invested in CFC Select Notes to help offset the interest owed on the loans.” Our CFC line of credit was extremely helpful for managing cash flow during construction, as the contractor’s monthly bills varied based on the projects in progress.”

Focus on Member and Employee Communication

Parke County REMC developed a communications plan to explain the rationale for the new building project and get member and employee buy-in.

“To ensure transparency and keep everyone informed, we provided a list of frequently asked questions with responses for all employees and members,” Jenkins said. “Additionally, we created a dedicated page on our website where members could access updated information and view pictures throughout the construction process.”

The plan also included keeping members up-to-date with information and pictures of the new facility in a member newsletter published six times a year and distributed via mail or email. Parke County REMC also worked with its statewide to create a video highlighting the new facility and explaining the reasons for the move. The video was showcased at the ribbon-cutting ceremony, shared on its social media pages and added to the website.

The cooperative also created a building committee of employees to gather their input.

“If an employee had a particular interest or expertise, we let them take the lead,” Jenkins said. “For example, some employees were passionate about the building’s color scheme and ensuring everything matched. They did an excellent job coordinating the interior and exterior design. Employees from the operations department designed the warehouse layout and organized supplies for maximum efficiency.”

In the end, teamwork helped make the new building project a success.

Jenkins shared some advice for electric cooperative leaders considering building a new headquarters building. “Be open to all suggestions made by employees. They are the ones who do the work and know what would benefit them the most. Even what seems to be the most insignificant suggestion may save time and effort in the future. They say it takes a village to raise a child, and it takes a team to achieve the best results.”