New Mexico Coop Seeks Funding to Prevent Takeover, Will Pay Out Capital Credits

Socorro Electric Cooperative (Socorro Electric) is looking for approximately $250,000 from the National Rural Utilities Cooperative Finance Corporation’s Cooperative System Integrity Fund (Fund) to help the coop ward off a takeover by the city of Socorro, New Mexico.  The Fund is intended to help rural coops whose service territories may be threatened.  Additionally, Socorro Electric will issue more than $1 million in patronage capital.  Click here for more information.

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