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The Rural Development Finance Corporation is a North Dakota nonprofit finance and development corporation whose member-owners are all the North Dakota Rural Electric Cooperatives, nine of the North Dakota Rural Telecommunication Cooperatives and the North Dakota Association of Rural Electric Cooperatives. Funding for these programs comes from fee income generated by Dakotas America LLC, a certified development entity providing New Market Tax Credits in the Dakotas. More information on Dakotas America can be found at www.dakotasamerica.com.

2019 - 2020 Biennial Report

RDFC Board of Directors

RDFC Forms

Vision

Rural communities enjoy a vibrant and fulfilling
quality of life through RDFC initiatives.

Mission

RDFC encourages economic diversification and
community vitality through the generation of
funding that supports sustainable asset building.

Values

  • RDFC considers proposals to help build assets in rural communities and cooperatives

  • RDFC values allowing communities to define their needs and methods for building assets

  • RDFC employs maximum flexibility in our work and funding

  • RDFC values leveraging of resources

  • RDFC manages fiscally sound programs

RDFC Members

North Dakota's Telecommunications Cooperatives:

BEK  
Consolidated Telcom
Dakota Central
Dickey Rural
Northwest
Polar
Red River Communications
Reservation Telephone
SRT
United
WRT
Broadband Association of ND (BAND)

North Dakota's Electric Cooperatives:

Burke-Divide
Capital
Cass County
Cavalier Rural
Dakota Valley
KEM
McKenzie
McLean
Mor-Gran-Sou
Mountrail-Williams
Nodak
North Central
Northern Plains
Roughrider
Slope
Verendrye
Lower Yellowstone
North Dakota Association of Rural Electric Cooperatives (NDAREC)

Communities build, grow with development financing

For the growth challenges now facing North Dakota communities, the Rural Development Finance Corporation (RDFC) is playing a valuable role for co-ops.

  • Valley City-Barnes County Development Corporation – Pace-Flex Pace numerous interest buy down loans for various businesses in Valley City including the purchase of businesses and inventory, building improvements, and multi-family and affordable housing projects.
  • BOG Holdings, Inc. – Participation Loan up to $150,000 at 2% interest with 1% origination fee; term to match the originating lender. Funds will be used for the construction of Bobcat of Gwinner.
  • Park River – 2 CCLs totaling $450,000 both at 2% interest with 1% origination fee for 10 years.  Funds will be used for the construction of a new city shop and a building expansion.
  • Stanton Rural Fire Protection District – CCL up to $54,000 at 2% interest with 1% origination fee for 10 years. Funds will be used to build a new structure to house fire trucks and equipment.
  • Hankinson Housing Authority – CCL up to $300,000 at 2% interest with 1% origination fee for 10 years. Funds will be used to purchase a tri-plex unit for moderate-income renters.
  • City of St. Thomas – CCL up to $34,800 at 2% interest with 1% origination fee for 10 years. Funds will be used for maintenance on the city’s water tower.
  • City of Berthold – CCL up to $224,079 at 2% interest with 1% origination fee for 10 years. Funds will be used for roadway and drainage improvements.
  • Lidgerwood Progressive Development Corp. – CCL up to $400,000 at 2% interest with 1% origination fee for 10 years. Funds will be used for construction costs and equipment purchases related to a new retail grocery store.
  • City of Glen Ullin – CCL up to $44,000 at 2% interest with 1% origination fee for 10 years. Funds will be used to chip seal 8 existing blocks of pavement and 16 new blocks of new pavement.

RDFC values the Seven Cooperative Principals and Six Cooperative Values

6 Cooperative Values 7 Cooperative Principles
  1. Equity
  2. Self-help
  3. Self-responsibility
  4. Solidarity
  5. Equality
  6. Democracy
  1. Voluntary and open membership
  2. Democratic member control
  3. Members’ economic participation
  4. Autonomy and independence
  5. Education, training and information
  6. Cooperation among cooperatives
  7. Concern for community

 

For overall rural development questions contact:
Lori Capouch, Economic Development Director
Mary Helvig, Rural Development Assistant
Brian Gion, Cooperative Development Specialist

 

Owned by North Dakota’s rural and electric cooperatives and the North Dakota Association of Rural Electric Cooperatives