Farmer Returns for Second Term as
National Rural Utilities Cooperative Finance Corporation Director
Sept.. 29, 2016
At the Sept. 8 National Rural Utilities Cooperative Finance Corporation (CFC) District 1 Meeting in Grand Rapids, Michigan, delegates re-elected Kent Farmer to a second, three-year term on the CFC Board of Directors. Farmer is president and CEO of REC.
CFC is a nonprofit finance cooperative with approximately $24 billion in assets. It provides unparalleled industry expertise, flexibility and responsiveness to serve the needs of its member-owners. Through CFC, financing is provided to member organizations and affiliates in 49 states, the District of Columbia and two U.S. territories.
“Electric cooperatives, like REC, work tirelessly to ensure our members have reliable, safe and affordable electricity,” said Farmer. “We are purchasing materials, investing in new technologies and making improvements to our infrastructure. CFC leverages its strength as a member-owned financial institution to access affordable capital in all market conditions allowing our cooperatives to continuously deliver exceptional service to our members.”
Farmer serves on the 23-member board of directors with representatives of 10 geographically defined districts, the electric cooperatives' national trade association and an at-large director. The board sets overall policy, establishes programs and develops strategies for CFC.
Farmer has been president and CEO at REC in Fredericksburg since 2004. In addition to his duties at REC and as a CFC board member, Farmer is a board member of the Virginia, Maryland & Delaware Association of Electric Cooperatives and serves as vice chairman of Old Dominion Electric Cooperative. He and his wife live in Caroline County.
REC provides electric service to over 161,000 connections in parts of 22 Virginia counties. With its general office in Fredericksburg, Va., the Cooperative operates and maintains more than 16,000 miles of power lines through its service area, which ranges from the Blue Ridge Mountains to the tidal waters of the Chesapeake Bay. Follow REC on Facebook, Twitter and YouTube.