Connection is key

RiverStreet Networks, formerly known as Wilkes Telephone Membership Corporation, has evolved from a small telephone cooperative into a full-service broadband provider, driving digital connectivity throughout North Carolina and Virginia. And through its latest broadband project, RiverStreet’s reach is still expanding, offering fiber-to-home services to nearly 100,000 rural and underserved locations.

Founded in 1951, the cooperative initially served Wilkes County in North Carolina. Seventy years later, it now serves 68 counties, but its goal remains the same—to improve lives by providing the latest and fastest communication services available. To ensure it could keep pace, the co-op has undergone several acquisitions and mergers since 2015, as well as a rebrand as RiverStreet. This positioned the co-op to better serve its members and embrace new technologies.

Since our rebrand, all of our lending needs have been through CoBank, and they’ve truly been a great partner.

“We always want our member-owners to have access to emerging advancements within the industry, and right now, broadband is key,” said Eric Cramer, president and CEO of RiverStreet. “Over the last decade, we’ve grown and evolved tremendously—even crossing state lines to ensure rural communities have access to high-speed connectivity. And our partners have been crucial in making that possible,” Cramer said.

Recently, RiverStreet began its most sizeable broadband project to date—a $330 million grant project that will provide fiber connectivity to customers in 17 counties throughout Virginia that are home to communities that don’t yet have access to high-speed fiber internet.

The co-op financed the plan with government funding and a $191 million credit facility from its financial partner, CoBank.

“Since our rebrand, all of our lending needs have been through CoBank, and they’ve truly been a great partner. They understand the industry, and as a fellow cooperative, they understand our business model and share our same values. But most importantly, they understand why these projects matter to rural America,” Cramer said.

RiverStreet’s new broadband project is already underway in several counties, ensuring every home within the region has access to the most up-to-date fi ber internet. This also opens new opportunities for the community members—creating access to services like telehealth, remote schooling and employment options.

“We’re changing lives by providing something that people need. To see it in action and finally installing fiber into the ground has been so transformative, and we feel that support and excitement within each county we complete,” Cramer said. “Ultimately, we want to serve the unserved. Every county involved lacked broadband, which is why our co-op was formed in the first place—to connect people. CoBank is part of that connection, and their partnership has been pivotal.”