The National Rural Utilities Cooperative Finance Corporation (CFC) is a member-owned nonprofit cooperative that provides financial products to Americas rural electric cooperative network. CFC was established in 1969 to raise funds from the capital markets to supplement the loan programs for electric cooperatives offered by the U.S. Department of Agriculture’s (USDA) Rural Utilities Service (RUS), previously Rural Electrification Administration (REA). While CFC is not a government-sponsored enterprise (GSE), it (along with its telephone affiliate, RTFC), has forged an effective public-private partnership with RUS. This partnership enables CFCs utility borrowers to access an array of financing options including those provided by the federal government. Together, CFC and its affiliates, the National Cooperative Services Corporation (NCSC) and the Rural Telephone Finance Cooperative (RTFC), provide financing to 1,460 member organizations and affiliates in 49 states, the District of Columbia and two territories. Rural electric systems serve 12 percent of all consumers of electricity in the United States and its territories, account for approximately 10 percent of total sales of electricity and own about 5 percent of electric generation capacity.