This future co-op leader had a great time at IBES where he met basketball legend Earvin "Magic" Johnson. He shared a photo he drew of the star and received a high-five in return.
The National Rural Utilities Cooperative Finance Corporation (CFC) (NYSE: NRU, NRC) is a nonprofit finance cooperative created and owned by America's electric cooperative network.
CFC (NYSE: NRU, NRC) was established in 1969 as a source of private financing for rural electric cooperatives to supplement the loan programs of the U.S. Department of Agriculture’s Rural Utilities Service (USDA/RUS). CFC is not a government-sponsored enterprise. However, CFC and its telephone affiliate, RTFC, have forged an effective public/private partnership with USDA/RUS. This partnership enables CFC's utility borrowers to access an array of financing options in addition to those provided by the federal government. CFC is committed to improving the quality of life and enhancing economic opportunity in the communities served by its member rural utility systems. Today, CFC is the largest private lender to rural electric systems. CFC makes loans to its member systems to enable them to acquire, construct and operate electric distribution, generation, transmission and related facilities.
Mission: To bridge the financial needs of the rural electric network with the expectations of the global capital markets, one cooperative at a time.
This future co-op leader had a great time at IBES where he met basketball legend Earvin "Magic" Johnson. He shared a photo he drew of the star and received a high-five in return.
CFC would like to thank all active duty and retired military, especially our employee Veterans, some of whom are featured in this photo, for their service. Learn more about how cooperatives empower veterans and military spouses at www.servevets.coop.
CFC employees enjoyed a recent visit to Choptank Electric Cooperative in Denton, Maryland, where they toured one of the co-op's more unique members, a turtle farm, and were reminded of the dangers of downed electric lines during a hot line demonstration. Thanks, Choptank, for hosting us!
CFC employees participated in a variety of events throughout October. While the official National Co-op Month may have drawn to a close, at CFC every month is Co-op Month. Electric cooperatives founded us 50 years ago, and we exist exclusively to serve them. #GoCoop
Learn more about CFC's history at: https://www.nrucfc.coop/content/nrucfc/en/about-cfc/cfc-50th-anniversary.html
Representatives from Adams Electric Cooperative, Inc., NOVEC and Rappahannock Electric Cooperative visited CFC headquarters last week to participate in a panel presentation for employees on "Co-op Community Challenges and Opportunities." CFC staff enjoyed learning more about the visiting cooperatives while being reminded that no two cooperatives are exactly alike.
We had a wonderful time last weekend celebrating National Co-op Month by participating in the Cooperative Development Foundation's Co-op 5k. CFC boasted the largest team in attendance and even took home gold for "Quickest Co-op!"
CFC employees had a great time today teaming up with NOVEC and NOVEC HELPS on their 2019 Day of Caring. Just like our members, we are always inspired by the two cooperative principles of “Cooperation Among Cooperatives” and “Concern for Community.” #CoopMonth #CFCCares
Volunteers from NOVEC, NOVEC HELPS and Cooperative Finance Corporation (CFC) joined forces to give back to the community for the 2019 Day of Caring! The volunteers painted, power washed, cleaned and did yardwork to help revamp two CRi residence locations.
CRi supports and provides resources to individuals with developmental disabilities & mental health needs, and has served the community for 45 years. Learn more at mycri.org. #community #volunteering
Ron Meyer, Loudoun County Government Supervisor for the Broad Run District, stopped by to present CEO Sheldon Petersen and the entire CFC team with a resolution commending the work we do and our success in serving rural America. Thank you, Loudoun County, for serving as CFC's home these past eight years.
Thanks to support from CFC and NCSC, lineworkers from seven North Carolina electric cooperatives recently traveled to Laphia, Bolivia, to bring electricity for the first time to a remote mountain village. Villagers honored the Tarheel State lineworkers by presenting them with red blankets, wool hats and flowers in a celebration.
CFC and NCSC provided grants to North Carolina's Electric Cooperatives and its Brighter World Initiative to help fund the trip. Check out the video of trip highlights!
In 2019, volunteers from N.C. electric co-ops brought first-time electricity access to Laphia, Bolivia -- and it changed the lives of the villagers and our v...
During the recent annual meeting of the Virginia, Maryland and Delaware Association of Electric Cooperatives (VMD, statewide), two Virginia cooperative chief executives—NCSC Board President John Lee, left, CEO of Mecklenburg Electric Cooperative, and CFC Board President Kent Farmer, second from right, CEO of Rappahannock Electric Cooperative—were honored with VMD board resolutions for their service in leading the two national organizations at the same time, a first for any state. Honoring the pair from left are Herbert Patrick, VMD board president and a director from Prince George Electric Cooperative, CFC Regional Vice President Jim Meiers, and Marcus Harris, CEO of Old Dominion Electric Cooperative (G&T).
CFC employees recently celebrated CFC's 50th Anniversary, including a special appearance from CFC retirees.
Our core values of service, integrity and excellence have helped provide the electric cooperative network with financing over the past 50 years. We want to take a moment to thank each team member who has helped contribute to our mission.
CFC employees donated items and their time to sort and pack kids snack bags for Northern Virginia Family Service (NVFS). Over 300 bags were packed with nutritious snacks that will go to hungry kids in our local community. #CooperativePrinciples #Community
CFC Senior Vice President of Strategic Services Steve Kettler, center, presents more than $13,000 in combined CFC Educational Fund and NCSC Cooperative Youth Education Grant Program checks to Robert Grant, left, president of the North Dakota Association of Rural Electric Cooperatives (NDAREC) Board of Directors and a director with Mountrail-Williams Electric Cooperative, a 100 percent CFC borrower, and Josh Kramer, right, NDAREC executive vice president and general manager, during a recent NDAREC meeting.
#CFCForumRecap #CFCForum2019 — Ian Bremmer, president and founder of Eurasia Group and TIME magazine foreign affairs editor-at-large, highlighted ways world political developments and national security dynamics move markets and shape
“Services and manufacturing are still global, but supply chains are going to shrink. The gravity that was moving markets in a global direction has shifted toward local markets.”
Happy #NationalInternDay! This year, we had four very talented interns with diverse interests.
Colton Parr, far left, a finance and accounting major at Benedictine College in Kansas and Jared Hawkins, far right, a finance and accounting major at Penn State, split the summer between our Member Services Group and Treasury & Finance Group. Daniel Bischoff, center left, a digital advertising major at LSU, worked with our Corporate Relations Group. Caroline Bryan, center right, an aspiring lawyer and English major at UVA, gained experience working with our legal department.
Daniel had this to say of his experience this summer “CFC is an amazing place to work. They care not only for their members, but their employees. I hope one day I can work for an organization like CFC!”
#CFCForumRecap #CFCForum2019 — In a compelling interview, Major League Baseball executive and Hall of Famer Joe Torre discussed lessons on how to lead for success. Throughout a remarkable 18-season major league playing career he hit more than .300 five times, won the 1971 National League Most Valuable Player Award and was a nine-time All-Star. As a manager over more than 28 seasons, his dugout legacy was cemented during 12 seasons with the New York Yankees where his teams captured four World Series titles, six American League pennants and playoff appearances every year.
“I always managed with the belief that you set the same expectations for everyone, but you manage differently based on the personality of the player."
During the recent Idaho Consumer-Owned Utilities Association (statewide) Annual Meeting, CFC Director Doyle Jay Hanson, left, from Fall River Rural Electric Cooperative, and CFC Associate Vice President Colleen Taylor, second from left, presented $12,800 in combined CFC Educational Fund and NCSC Cooperative Youth Education Grant Program checks to Will Hart, statewide executive director. Looking on from right are NCSC Board Vice President James Webb, president and CEO of Lower Valley Energy in Wyoming, and Robert Boren, former NCSC director from Salmon River Electric Cooperative.
CFC hosted some of rural America's best and brightest young minds on July 16. Youth Leadership Council (YLC) members visited CFC offices in Dulles, Virginia, as part of their introduction to electric cooperative financing. Members of YLC—an annual working group made up of one outstanding Rural Electric Youth Tour student selected from each state—are given hands-on opportunities to broaden their understanding of electric cooperatives and participate in resolutions and grassroots advocacy activities during the NRECA Annual Meeting.
Many electric cooperative statewide associations use funds from the NCSC Cooperative Youth Educational Grant Program to support Youth Tour activities.
We had a great time at #CFCForum2019. It was a wonderful event filled with networking, information and cooperation. Stay tuned for our #CFCForumRecap.
Make sure to mark June 15-17 2020, in your calendars for Forum 2020 in Salt Lake City, Utah!
Recently, CFC was gifted this handcrafted American flag created by Matthew Kulwicki, son of CFC Regional Vice President Billy Kulwicki. Matthew works in the IT department at Trinity Valley Electric Co-op in Kaufman, Texas. #CooperativeFamily
CFC is proud to serve electric cooperatives in 49 states across the United States. Happy Independence Day!
CFC CEO Sheldon Petersen discussed how electric cooperatives can best respond to a new era of disruption and ensure co-ops remain vibrant for many years to come. #CFCForum2019
“The dynamics of today’s electric utility sector are unlike any we’ve seen before. The velocity of change and the increasing number of disruptive forces continue to confound expectations.”
CFC Forum 2019 is now underway! #CFCForum2019
We are proud to support cooperative educational efforts in South Dakota through the CFC Educational Fund and NCSC Cooperative Youth Educational Grant Program.
Cooperative Finance Corporation (CFC) Director Brad S. of Southeastern Electric Cooperative, Inc. attended today's board meeting and presented checks on behalf of CFC and NCSC to support cooperative educational efforts in South Dakota. Pictured are SDREA General Manager Ed A., CFC Director Brad S. and SDREA Board President Don H.
CFC has been a proud sponsor of a golf tournament fundraiser held for the past 15 years by Northwestern REC in Pennsylvania. Proceeds from the event go to Member to Member, Inc., the co-op's charitable organization that helps consumers in hardship situations pay their power bills.
As CFC celebrates its 50th year of serving rural electric systems, we honor Vincent Slatt, former general manager of Inland Power & Light Company in Washington who served as a member of the NRECA Long-Range Study Committee (1967–69) that built the foundations of CFC. Vince, an original CFC incorporator and the organization's first board president (July 1970–February 1977), passed away in March at age 99.
“We began looking at electric cooperatives as a whole. When we considered how co-ops had uniformity in specifications and accounting plus a collective size that made us the largest utility in the nation, it became clear the issue to solve wasn’t rate parity, it was financing.” — Vince Slatt
Each June, CFC is proud to help support the annual Electric Cooperative Youth Tour. This year, more than 1,500 high school students sponsored by local electric cooperatives from around the nation spent a week in Washington, D.C., learning about electric co-ops and the federal government, meeting with congressional leaders on Capitol Hill, exploring sights in the nation’s capital and making new friends. #EducationAndTraining
Shout out to Indiana Youth Tour sponsor Cooperative Finance Corporation (CFC) for helping make this trip possible. #INYTDC, #YTDC, Electric Cooperative Youth Tour
CFC hosted international delegates of the Transatlantic Energy Conference on Thursday, briefing them on CFC’s role in supporting the success of electric cooperatives. CEO Sheldon Petersen described CFC’s mission and unique business model, while CFO Andrew Don explained CFC’s funding sources and the capital structure of the organization.
Today the group headed down to Rappahannock Electric Cooperative to learn more from CFC Board President Kent Farmer.
#TBT Ever wonder how CFC got its name? The NRECA Long-Range Study Committee, which helped found CFC, felt the name of National Rural Utilities Cooperative Finance Corporation accurately captured the scope of the entity, the rural members it served, its purpose and its business model as a cooperative. While a mouthful, no one really expected to use the full moniker very often. Learn more about CFC's history at https://www.nrucfc.coop/content/nrucfc/en/about-cfc/cfc-50th-anniversary.html.
#CoopsCare CFC’s Courtney Metzger and Jim Meiers joined co-op friends from Delaware County Electric Cooperative, Oneida-Madison Electric Cooperative, Vermont Electric Cooperative, Inc. and United Utility Supply at Aldermere Farm in Maine where they spent a day restoring hiking trails and removing fallen trees. They were rewarded with a tour of the working farm where they learned more about Belted Galloway cattle, and even gave a few cows a good scratch behind the ears!
Remembering and honoring those who have served our great nation and who have given the ultimate sacrifice. We thank you for your bravery and courage.
We had some very special guests today! Students from the University of Nebraska-Lincoln and Concordia College - Offutt School of Business met with CFC staff to learn about the cooperative business model, how CFC operates and interacts with members and electric cooperative history.
It was perfect weather for CFC employees to observe National Bike to Work Day and celebrate bicycling as a clean, fun and healthy way to get to work. A few employees cruised into a nearby designated pit stop to receive a free t-shirt, refreshments and entry into a drawing to win a new bicycle! #BTWD2019
Thank you TECA for hosting us! CFC is dedicated to furthering financial literacy within cooperatives through our training and webinars. Information can be found at https://www.nrucfc.coop/content/nrucfc/en/member-services/events-training.html.
We are pleased to host co-op leaders from around Tennessee today for a CFC Compass financial planning workshop presented by Cooperative Finance Corporation (CFC). TECA and our partners provide ongoing training and education opportunities for Tennessee's electric co-ops.
There is still time to register for CFC Forum 2019. Join us in the Big Apple for pre-conference workshops, breakouts and general sessions customized for electric cooperative leaders. Find this year’s speaker list and register at https://portal.nrucfc.coop/content/cfc/events/meetings/cfc-forum-2019.html (Login required).
This past week CFC staff and 100% borrower CFO’s met in New York for the NY100. While in the city they were given an all-access tour of the New York Stock Exchange and even got to see CFC’s brand-new listing on the securities exchange which debuted on Wednesday! #NY100 #NRUC
With hurricane season fast approaching, make sure your cooperative is financially prepared for whatever comes. CFC's emergency lines of credit (ELOCs) can help you get the lights back on quickly after disaster strikes. #HurricanePreparednessWeek
#TBT, On Dec. 29, 1972, the survival of electric cooperatives was threatened when President Nixon signed an executive order eliminating electric loans made through the REA. Cooperatives mobilized and 1,400 leaders from across the country descended on Washington, D.C., in late January 1973 to persuade Congress to overturn the action--the first NRECA Legislative Conference. This past week, 2,000 cooperative leaders attended the annual NRECA Legislative Conference to generate bipartisan support on Capitol Hill for projects like #modernizing the electric grid, expanding #RuralBroadbandNow and #Electrifying the economy. #CoopsOnTheHill
Over the past four years, CFC staff have facilitated nearly 350 no-cost strategic planning sessions with member cooperatives. With the electric utility business evolving at an ever-faster pace, cooperatives are holding sessions every two to three years, often with mid-cycle updates, to keep up with the changing landscape.
The past two days the Carroll White REMC Board of Directors and Leadership Team gathered for Strategic Planning. Some of the items and topics touched on were current industry topics and trends, system planning, rates and power costs, future of alternative energy and electric vehicles, member engagement, and techology. It was a very full and producitve two days for our members. We want to thank our facilitators Aaron Stallings and Brian Stagen of Cooperative Finance Corporation (CFC) and Earl Ridlen of London Witte Group.
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