2019 ER Annual Report_website

SUPPORTING
COMMUNITY:
REED FUND
The Rural Electric Economic
Development (REED) Fund, which is
governed by 26 electric cooperatives
in South Dakota and Minnesota, had
another strong year in 2018, issuing 16
loans for $6.9 million.
Since 1996 the REED Fund has invested more
than $100 million in the region through more
than 338 loans. The REED Fund and partner
lenders have combined to distribute more than
$858 million in economic investment, 9,400 jobs
have been impacted, and 2.3 million square feet
of facilities have been constructed or renovated,
mostly by non-profit development corporations
committed to helping the region grow.
“The REED Fund experienced modest
membership growth and completed 2018 in
a strong financial position thanks to the active
involvement of its member cooperatives,” said
REED Fund Board Chair Ken Schlimgen. “The
REED Fund is a valued resource for improving
economic development and community
resources throughout REED’s footprint.”
COMMUNITY PARTNERSHIP
REED lends to business/agribusiness,
community projects and housing development.
Since 1996, 33 percent of REED’s lending
has gone to cooperatively-served projects, 15
percent in communities with municipal electric
systems and 52 percent in towns served by
investor-owned utilities.
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