Utility Capital Solutions Holds Annual Meeting, Elects New Telecom Director

Utility Capital Solutions held its 45th Annual Membership Meeting June 15 in Chula Vista, California, in conjunction with the CFC Forum.  Board President Steve Rhodes, CEO of Florida-based Choctawhatchee Electric Cooperative (CHELCO), presided over the meeting. In his president’s report, Rhodes announced that NCSC is now doing business as Utility Capital Solutions.

“The NCSC name has a proud history, but it comes from an earlier chapter in the organization’s life,” Rhodes said. “Utility Capital Solutions better reflects the full scope of what we do today. It is clearer, more modern and more immediately recognizable. Most importantly, it speaks directly to the value we provide: practical capital solutions that help rural utilities move projects forward, meet urgent needs and serve their communities with confidence.”

Rhodes shared that while not yet audited, Utility Capital Solutions had approximately $1.7 billion in loans outstanding as of May 31, 2026—up $2.2 million since the last fiscal year-end. Five new project finance deals totaling $208.7 million were closed, and the leasing program booked closed eight leases totaling $1.1 million. Utility Capital Solutions’ private placement subsidiary, Cooperative Securities, completed two transactions totaling a combined $250 million, bringing its total to $1.33 billion since 2022.

The meeting also marked a significant leadership change. Fred Johnson, director at Farmers Telecommunications Corporation in Alabama and longtime District 2 Class T director, officially concluded his 18-year tenure on the board. In his place, members elected Jason Dandridge, CEO of South Carolina-based Palmetto Rural Telephone Cooperative, to represent the district. Rhodes extended his gratitude to Johnson for his years of dedicated service.

Michael Carbonaro, star and executive producer of the hit truTV series “The Carbonaro Effect,” delivered the keynote address for this year’s Utility Capital Solutions Annual Meeting, blending his mind-bending magic with humor and audience interaction to create an unforgettable experience. 

Videos of Carbonaro and other CFC Forum 2026 speakers’ presentations are now available on the Utility Capital Solutions Member Website through July 31, 2026. Log in and click the Watch Now button in the Forum carousel slide on the homepage to access them.

Save the Date

The 2027 Utility Capital Solutions Annual Membership Meeting will take place June 9, 2027, in Chicago in conjunction with CFC Forum.