• Arizona Coop Forgoes 100% Equity Financing, Becomes CFC Borrower
  • March 4, 2014
  • Law Firm: Sutherland Asbill Brennan LLP - Washington Office
  • Duncan Valley Electric Cooperative (DVEC), based in Duncan, Arizona, recently borrowed from the National Rural Utilities Cooperative Finance Corporation (CFC) to prepay future National Rural Electric Cooperative Association Retirement Security Plan contributions. The move makes DVEC a 100% CFC borrower and marks a departure from its existing financing strategy. DVEC, which last borrowed from a lender in the 1970s, paid off its final outstanding loan in 2009, becoming fully financed by equity, including interest earned by its CFC Member Capital Securities investment.