In the spirit of cooperation among cooperatives, Egyptian Electric Cooperative Association (EECA) is serving as intermediary to facilitate a $1,000,000 zero-interest loan through the U.S. Department of Agriculture’s (USDA) Rural Economic Development Loan and Grant (REDLG) program to neighboring not-for-profit Monroe County Electric Cooperative (MCEC).
The funding will help MCEC purchase an existing property near its headquarters in Waterloo that will be used as a new utility pole yard and storage facility to provide much-needed indoor storage for materials and equipment. Space constraints at MCEC’s headquarters have made it challenging for them to maintain the inventory levels required in today’s market, especially as longer lead times continue to impact the utility industry.
“Projects like this are about being ready when conditions change quickly,” said EECA General Manager Shane Hermetz. “When you provide an essential service, that kind of readiness makes a real difference in how quickly and effectively you can respond when people need it most.”
MCEC maintains approximately 1,200 miles of distribution and transmission line serving more than 6,700 farms, homes, and businesses across Monroe, Randolph, and St. Clair counties.
USDA Rural Development provides loans and grants to help expand economic opportunities and create jobs in rural areas. Funding for these projects is made available through the REDLG program, which supports rural businesses and community development initiatives. For more information about the program, visit our website.
The EECA Board of Directors approved the loan application on March 31, 2026, and funds were distributed to Monroe County Electric Cooperative on May 20, 2026.