MANKATO - AgStar Financial Services and United FCS have partnered with Renville County Hospital and Clinics in Olivia on the renovation and expansion project.
The $24 million project was made possible through many partnerships including investments from AgStar, United FCS, CoBank, and financing from USDA Rural Development. In addition, Renville County Hospital and Clinics has committed a portion of the project costs from their own cash reserves.
This 62,000 square-foot project includes a new clinic featuring 15 exam rooms and one procedure room, 16 inpatient beds, lab radiology and therapy, outpatient and specialty clinics, two operating rooms and an education center.
"Providing financial support to assist with re-vitalization of rural community infrastructure is important to maintaining healthy local economies and United FCS is pleased to be a part of the lenders group that is providing the financing for this project," said Marc Knisely, CEO of United FCS. "We see this project as one that allows our local communities improved access to quality health care today while also promoting opportunities for future expansion of services."
AgStar Financial Services, ACA, headquartered in Mankato, Minn., employs more than 600 full-time people. The company is part of the national Farm Credit System and has a public mission to serve 69 counties in Minnesota and northwest Wisconsin. AgStar's industry specialization, client segments and market delivery systems result in diversification nationwide. As a value-added financial services cooperative, AgStar allocates patronage dividends to its 14,000 stockholders. The company is also committed to giving back to rural residents, organizations and communities through AgStar's Fund for Rural America.
United FCS is a member-owned cooperative and part of the Farm Credit System, a nationwide network of retail lending associations chartered to support the borrowing needs of U.S. agriculture and the nation's rural economy. Headquartered in Willmar, with six offices located throughout West Central Minnesota (including Olivia) and six offices throughout North Central Wisconsin, United FCS serves over 6,000 customer-members in a 22-county service area. With over $1.7 billion of assets and 185 employees, United FCS provides loans, leases and a wide array of financial services and has paid in excess of $66 million of cash patronage to its member-owners since 2002.