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CFC manages and funds the Rural Telephone Finance Cooperative (RTFC), [5] an organization that provides financing to the rural telecommunications industry. CFC also manages and funds the National Cooperative Services Corporation (NCSC), [6] an organization that provides electric cooperatives with specialized financing services that supplement the financial services of CFC.
A utility cooperative is a type of cooperative that is tasked with the delivery of a public utility such as electricity, water or telecommunications to its members. Profits are either reinvested for infrastructure or distributed to members in the form of "patronage" or "capital credits", which are dividends paid on a member's investment in the cooperative.
In 1949, the Rural Electrification Administration (REA) loan program was established to give long-term, low-interest loans to rural telephone systems. In response, the National Rural Electric Cooperative Association (NRECA) created a committee of representatives from emerging joint electric-telephone cooperative organizations.
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The Corporation Commission later allowed some of the state’s largest public utilities to securitize the debt by adding a monthly surcharge to consumers’ bills that will last for decades.
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Darke Rural Electric Cooperative (Greenville, Ohio) [32] Deaf Smith Electric Cooperative; Deep East Texas Electric Cooperative; Delaware Electric Cooperative; Diverse Power; East Central Electric Cooperative (northeast Oklahoma) [33] Edgecombe-Martin County Electric Membership Corporation; EnergyUnited; The Energy Cooperative (Newark, Ohio) [34]
The Corporation Commission permitted three of the state’s largest public utilities to securitize the debt by adding a monthly surcharge to consumers’ bills that will last for decades.