Wake Electric Provides $400,000 Zero-Interest Loan to Rolesville Rural Fire Department for Fire Truck
ROLESVILLE, Nov. 17, 2022 – The Rolesville Rural Fire Department (RRFD) received a $400,000 zero-interest loan to purchase a new Pierce Rescue Truck. Rolesville, located in Wake County, continues to transform from a small rural community to a developed suburb of Raleigh. Service delivery needs and infrastructure demands have put pressure on local fire services. This new rescue truck will assist the RRFD in delivering its services in a safer and more efficient manner.
The RRFD protects more than 16,500 homes and several schools and churches throughout their 33-mile fire district. The department’s 47 firefighters respond to an average of 1,200 emergency calls each year. The RRFD also provides mutual aid to the Wake Forest Fire Department, Wendell Fire Department, Hopkins Fire Department and Wake New Hope Fire Department in Wake County in addition to the Youngsville Fire Department and Bunn Fire Department in Franklin County.
This zero-interest loan will save the RRFD and the citizens of the fire district approximately $60,000 in interest over the term of the loan. This loan will also ensure the RRFD maintains their ISO rating which reduces the cost of fire insurance premiums for home and business owners and makes it more attractive for a business to start up or expand within the Rolesville Fire District and Wake Electric service area.
“We’re proud to be able to support the Rolesville Rural Fire Department in their mission to serve and protect,” said Jim Mangum, Wake Electric General Manager and CEO. “Facilitating this zero-interest loan is a unique way that our electric cooperative can improve the quality of life in our communities.”
Funds for this rescue truck were made possible through the Business Development Loan program through North Carolina’s Electric Membership Corporation (NCEMC). The program provides zero-interest funds to electric cooperatives who in turn lend the money to local entities for projects that support rural areas.
Wake Electric is a local, member-owned, not-for-profit electric cooperative serving more than 52,100 accounts in Durham, Franklin, Granville, Johnston, Nash, Vance, and Wake counties. Visit www.wemc.com for more information.