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At the time the Rural Electrification Act was passed, electricity was commonplace in cities but largely unavailable in farms, ranches, and other rural places. Representative John E. Rankin [4] and Senator George William Norris [5] were supporters of the Rural Electrification Act, which was signed into law by Roosevelt on May 20, 1936.
By 1937, hundreds of new municipal power utilities were created nationwide. In 1939, 288,000 households had their electricity provided by rural electric cooperatives. Most of these electric co-ops had applied for and received loans from REA. By 1942, nearly 50% of US farms had electricity, and by 1952 almost all US farms had electricity. [7]
CFC manages and funds the Rural Telephone Finance Cooperative (RTFC), [5] an organization that provides financing to the rural telecommunications industry. CFC also manages and funds the National Cooperative Services Corporation (NCSC), [6] an organization that provides electric cooperatives with specialized financing services that supplement the financial services of CFC.
Vermont Electric Cooperative not only supplies electricity to members, but also offers a range of programs including bill credits for the purchase of certain electric appliances and devices including electric vehicles, plug-in electric vehicles, heat pumps, heat pump hot water heaters, pellet stoves, electric forklifts, and Zero Energy Modular homes. [12]
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Electronic bill payment is a feature of online, mobile and telephone banking, similar in its effect to a giro, allowing a customer of a financial institution to transfer money from their transaction or credit card account to a creditor or vendor such as a public utility, department store or an individual to be credited against a specific account.