NCSC and CFC provide valuable information to rural electric cooperatives and the entire cooperative network through a variety of industry publications and resources.
Choptank's Fred Hubbard Retires
After nearly 52 years with Denton, Md.-based Choptank Electric Cooperative, President and CEO Fred Hubbard has retired. Hubbard first started working for the cooperative out of high school as a groundman—the prerequisite to becoming an apprentice lineman.
Hubbard worked his way up through Choptank's ranks over the years, serving as chief lineman, supervisor of construction, manager of utility services and manager of electric operations. He was named senior vice president and CEO in 1991, and president and CEO in 2001.
Hubbard served on the National Cooperative Services Corporation (NCSC) board for nine years, serving as board president and secretary-treasurer. He also served on the boards of the Virginia, Maryland and Delaware Associaton of Electric Cooperatives; United Utility Supply, ACES Power Marketing; and as chairman of the board of Old Dominion Electric Cooperative, Choptank's generation and transmission cooperative.
"Fred has certainly been a strong friend and supporter of CFC and NCSC over the years," CFC Governor and CEO Sheldon C. Petersen told a crowd of more than 200 at Hubbard's retirement dinner. "We'll miss your knowledge, insight and devotion to the entire electric co-op network. Your dedication to improving the quality of life for citizens in Maryland and throughout rural America makes us proud to be your friends and colleagues."
Moody's Affirms NCSC's Prime-1 Short Term Rating
On December 28, 2010, Moody's announced that it had affirmed National Cooperative Services Corporation's (NCSC) Prime-1 short-term rating for commercial paper. The rating outlook for NCSC is stable. NCSC's rating and stable outlook are based on the guaranty provided by National Rural Utilities Cooperative Finance Corporation (NRUC: A2 senior unsecured; stable outlook) whose short-term rating for commercial paper is Prime-1.
