National Rural Utilities Cooperative Finance Corp

NATIONAL RURAL UTILITIES COOPERATIVE FINANCE CORP (CFC) is a member-owned finance cooperative association that provides financing and credit enhancements to its members and associates. Incorporated in April 1969 under District of Columbia law, CFC's main goal is to supplement the loan programs offered by the Rural Utilities Service (RUS) of the United States Department of Agriculture (USDA). CFC extends loans to its rural electric members for various purposes, including construction, acquisitions, system and facility repairs and maintenance, enhancements, and ongoing operations. These loans support electric distribution and generation and transmission (power supply) systems, helping them provide reliable and affordable power to their customers. In addition to loans, CFC offers credit enhancements such as letters of credit and guarantees of debt obligations. As a cooperative, CFC is owned by and exclusively serves its membership, which consists of not-for-profit entities or their subsidiaries or affiliates. CFC is exempt from federal income taxes under Section 501(c)(4) of the Internal Revenue Code and operates as a nonprofit cooperative association in the District of Columbia. The company's financial statements consolidate the accounts of CFC and National Cooperative Services Corporation (NCSC), with principal operations organized into two management reporting segments: CFC and NCSC.