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Head of REC Selected as President of CFC’s Board

8 April 2019 Luray/Page County Shenandoah County Front Royal/Warren County Winchester Frederick County Clarke County News

The president and CEO of the Rappahannock Electric Cooperative has been selected to serve as president of the Board of Directors for a primary financing arm of electric cooperatives.

REC announced Friday (4/5/2019) that Kent Farmer would be filling the position with the National Rural Utilities Cooperative Finance Corporation, also known as the CFC. The CFC was founded in 1969 as a bank for cooperative utilities, and is a nonprofit with around $27 billion in assets; it provides financing to member organizations and affiliates in 49 states, the District of Columbia, and two U.S. territories. Farmer said Friday that the expertise at CFC helps REC make more efficient decisions, and that “It’s a win‑win for both organizations and I could not be more proud to be affiliated with both.”

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