Partnering for Rural Wisconsin Healthcare
Compeer Financial congratulates Cumberland Healthcare on their new, state-of-the-art hospital, which opened in Cumberland, Wis., in April 2023.
Cumberland’s original healthcare facility was constructed in 1955 and had been expanded numerous times, but did not have the capacity to provide modern healthcare. In addition to a lack of space for new technology, existing department layouts and building conditions impacted staff’s ability to efficiently perform their daily operations. With a need to support their rural community through quality healthcare, the nonprofit provider sought financing for a three-level building that would span 96,000 square feet.
Compeer Financial joined the USDA, CoBank and two local community banks to finance the facility, which totaled nearly $40 million. Compeer’s mission of enriching agriculture and rural America is brought to life in projects like Cumberland Memorial Hospital, which is helping the small town and surrounding area thrive by enhancing local health and wellness services.
The new facility immediately brought economic growth to the rural community of 2,268, beginning with local contractors performing construction on the facility and continuing with talent recruitment. After making the commitment to invest in a new building, Cumberland Healthcare was able to recruit three new family practice physicians and a new general surgeon.
The Cumberland Healthcare project was a collaboration between local banks, federal government financing programs and Farm Credit institutions who have a common goal of helping rural communities thrive. Compeer Financial is proud to be a lending partner on this project and others like it to support rural America and agriculture.