Whetstone Valley Electric Cooperative closed a $1 million loan from the REED Fund for the Milbank Area Health Care Foundation. The loan was used... WVEC Loans $1 Million to Milbank Hospital Foundation

Whetstone Valley Electric Cooperative closed a $1 million loan from the REED Fund for the Milbank Area Health Care Foundation. The loan was used to purchase diagnostic equipment primarily for the radiology department. The radiology department of the hospital averages approximately 300 examinations per month.

The REED Fund is a joint economic development fund managed by Whetstone Valley Electric and 21 other electric cooperatives in South Dakota and Minnesota. It primarily funds projects to promote economic development and enhance the lives of people in rural communities.

Stu Schreurs, Vice President of the Milbank Area Heath Care Foundation says, “Everyone recognizes there are so many components in creating and maintaining a quality facility… Staying current on medical equipment and technology is especially challenging as technology changes so fast today, particularly in the medical field.”

Whetstone Valley Electric Cooperative, which serves Grant and Roberts counties, was formed to provide electricity to people in rural areas who did not have access to power. The cooperative continues to believe in the concept of providing unserved and underserved areas with vital resources.

If you are planning a new business or looking to expand, or if your community needs financing for facilities or services, please contact Whetstone Valley Electric  Cooperative for an application or contact the REED Fund at (605)256-8015 for more information. This institution is an equal opportunity employer and provider.

Photo:
Whetstone Electric presents loan check to the Milbank Area Health Care Foundation: (l. to r.) Bill Tostenson, President, WVEC; Dave Page, General Manager, WVEC; Stu Schreurs, Vice President, Milbank Area Health Care Foundation; Daryl Halvorson, Treasurer, Milbank Area Health Care Foundation; and Greg Grajczyk, Secretary, Milbank Area Health Care Foundation.

Staff Writer

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