• New York Coop Refinances with CFC, Changes Patronage Capital Distribution Policy
  • February 28, 2014
  • Law Firm: Sutherland Asbill Brennan LLP - Washington Office
  • Otsego Electric Cooperative (OEC), based in Hartwick, New York, recently refinanced its outstanding debt owed to other lenders with the National Rural Utilities Cooperative Finance Corporation (CFC), becoming the first 100% CFC borrower in the state. OEC, which serves about 4,500 members in the area between the Catskill and Adirondack mountain ranges, also worked with CFC to develop a new capital credits policy that will permit more frequent distributions to members.