Monday, November 10, 2014

Victor man named to national utilities co-op board

Jay Hanson
Fall River Rural Electric Cooperative’s board president, Jay Hanson of Victor, has been elected to the board of the National Rural Utilities Cooperative Finance Corporation. Hanson will represent District 9, which is comprised of 12 western states and territories.

Formed in 1969, CFC is a non-profit finance cooperative created and owned by America’s electric cooperative utilities, and is guided by a 23-member board of directors that represent ten geographically defined districts. It helps ensure access to low-cost funding for electric cooperatives.
Hanson has been on Fall River Electric’s board for the past nine years. Before that, he spent 33 years as an agricultural extension agent for the University of Idaho and the University of Wyoming.

CFC was instrumental in helping Fall River Electric secure $14 million in clean renewable energy bonds, to finance the Chester hydroelectric project. “In addition to assisting us toward securing the financing, CFC’s fixed interest rate of 1.4 percent will save our owner-members over $9 million when compared to conventional financing options,” said Bryan Case, Fall River’s  CEO and general manager.