Dear Member-Owners,
As we move through the final quarter of 2024, I want to take this opportunity to update you on the exciting progress we're making with broadband deployment at Fybe, your cooperative’s wholly-owned broadband subsidiary.
Today, Fybe’s service is available to more than 9,800 member-owners of Roanoke Cooperative, and I am proud to share that nearly 4,000 of those member-owners have already subscribed to the service. Additionally, when we include subscribers outside of our electric cooperative membership, Fybe’s service reaches nearly 5,800 total subscribers across all areas. Our team remains committed to reaching every member-owner by the end of 2025, and we are well on our way to making that goal a reality.
Many of you may have heard about eNCore for the first time during our virtual Annual Meeting in August. For those who may have missed it, eNCore is an exciting new collaborative nonprofit entity between MCNC and Fybe. This partnership was created to financially support our accelerated buildout of fiber for all our member-owners, as well as expand fiber connectivity to other areas of North Carolina. This collaboration is a game changer, and we look forward to seeing how it helps us reach even more member-owners faster.
This year, we have had the pleasure of engaging with many of you during our Today, Tomorrow, Together Forums and through individual inquiries regarding the status of both our electric and broadband businesses. A key takeaway from these forums has been the opportunity for current Fybe subscribers to share their experiences—especially now that gigabit-speed service is available in their homes. It's been an honor to see how broadband is starting to impact our region, from enabling remote work to creating new business opportunities right from your homes.
Broadband availability in rural areas like the one Roanoke serves is no small feat. There is a reason this type of connectivity hasn’t been widely available here until now, and that is exactly why Roanoke Cooperative has taken on the challenge. We believe that bringing future-proof, reliable technology to rural areas is essential to our region’s economic growth. This investment is one of the ways Roanoke is working to provide long-lasting value for you, our member-owners.
Since early 2023, we have absorbed significant investments to stay on track with our fiber buildout schedule. The rate adjustment initiated in May 2024 reflects the financial need to maintain this pace while ensuring that we secure the funding required to serve all member-owners. As we announced during the adjustment, our goal is to reduce a portion of the costs currently passed through as Fybe grows and more members come online.
As we approach full deployment, we will be engaging more with member-owners to maximize the benefits of this connectivity. Our goal is to ensure Roanoke Cooperative is recognized as a “Multi-Gig Connected Electric Cooperative.” Through education and outreach, we will help members better understand how fiber connectivity can enhance their lives and strengthen the cooperative as a whole. Additionally, we are excited to share that we’ve received grant funding to employ digital educators to assist in this effort.
Beyond connectivity, we will continue to leverage fiber investments to improve the efficiency of our electric system and support energy-efficient technologies for member-owners. Whether it's making your homes safer and more comfortable or improving energy efficiency, we look forward to hearing more stories of how broadband is making a difference.
I encourage all member-owners to share their experiences and the impact Fybe’s service has had on your work, businesses, and homes. Your stories are a testament to the importance of this endeavor and serve as a reminder of why we do what we do.
Thank you for your continued support.
In service,
Marshall Cherry
President and CEO