February 15, 2018
Three RTFC board directors were re-elected to three-year terms on January 31 during the 30th RTFC Annual Meeting, held at RTFC headquarters in Dulles, Virginia.
Returning to the board are Bruce Bohnsack of Germantown Telephone Company in New York (District 1); Kevin Larson of Consolidated Telecommunications Company in Minnesota (District 3); and Bill Hegmann of Southwest Arkansas Telephone Cooperative in Arkansas (District 5).
RTFC Board President David Dunning, a director of Wolverton Telephone Company in North Dakota, presided over the meeting and concluded his tenure as RTFC board president. "For fiscal year 2017, RTFC earned a positive margin of more than $484,000, while operating expenses were nearly $1.2 million lower than the prior fiscal year," he stated during the President's Report. "Also, in fiscal 2017, RTFC experienced an increase in loans outstanding of $13 million."
RTFC recently published its fiscal year 2017 financial results. A digital version of the annual report is available on the RTFC website in the Member Center (login required).
Following the annual meeting, the board appointed new officers for 2018: