NRECA history

West Oregon Electric Cooperative was created in 1944, carved out of remote rural areas that the encircling for-profit utilities did not wish to take on due to the excessive expense for installation and maintenance.

Photovoltaic technology was “born” in 1954 when three scientists at Bell Labs created the first solar cell capable of converting the sun’s energy into power.

Since 1962, electric cooperatives across the United States—working through NRECA International—have provided more than 120 million residents in 40-plus developing countries with access to safe, reliable, affordable and life-changing electric service.

In January 1969, four years after formally endorsing exploring private-sector financing, the NRECA Board of Directors moved forward with making the promise of a member-owned financing cooperative a reality.

Petersen kicked off his electric cooperative career in 1976 at Nishnabotna Valley Rural Electric Cooperative in Harlan, Iowa, as a staff assistant.

Since 1980, co-ops have largely relied on electricity generated by coal-fired power plants supplied by electric wholesalers.

To reduce operational costs and improve staff access, land for a new 141,503-sq.-ft. headquarters in the Woodland Park corporate office center in Herndon, Virginia, was purchased in February 1986.

As a result, the Rural Telephone Finance Cooperative (RTFC) was incorporated on September 8, 1987, in South Dakota.

1988 – Begins investigating technologies that ultimately lead to automated meter reading products

Under the Federal Credit Reform Act of 1990, the Rural Electrification and Telephone Revolving Fund, which used money borrowers paid back on their loans to make new ones, was marked for termination.

1992 – Signs landmark direct broadcast system (DBS) distribution agreement with Hughes Communications and open sale of DBS territories to rural utilities

1993 – Almost 350 rural utilities and 36 affiliated investor organizations commit funds to the DBS project

1994 – DIRECTV successfully launches DBS-1 satellite

1997 – Becomes an Internet service provider with nrtc.net (now TrueBand Internet Services), promoting Internet access throughout rural America

1998 – NRTC breaks ground on Herndon, VA, headquarters building

1999 – NRTC members provide DIRECTV service to 1 million subscribers

Established on July 1, 2000, from a consolidation of Central Area Data Processing and North Central Data Cooperative.

2002 – Successfully defeats the proposed merger of EchoStar Communications and DIRECTV

2003 – Invests $29.5 million in WildBlue Communications to deliver satellite Internet access.

2005 – Begins providing Ka-band satellite Internet access with the commercial deployment of WildBlue

In May 2009, CFC adopts a new capital credits retirement policy, providing for a 50 percent immediate retirement of the previous fiscal year’s allocation and retaining the other 50 percent allocation for 25 years.

2011 – Tim Bryan, former CEO of ICO Global Communications, becomes NRTC CEO

2013 – Acquires NeoNova, a provider of wholesale ISP services and cloud-based solutions based in Raleigh, NC. NRTC will fold its TrueBand ISP business into NeoNova’s and leverage the combined platforms to invest in an expanded services for rural broadband providers.

In 2014, only 20% of America’s rural electric cooperatives were interested in solar energy.

2015 – Reaches a Master Representative and Marketing Agreement with SoCore Energy, one of the leading solar technology providers, to assist in developing solar energy projects for rural utilities.

2016 – Acquires Pulse Broadband LLC, to enable NRTC to accelerate its efforts to provide a full range of technology solutions to its electric and telephone members in the areas of broadband and communications services.

Sources: Understanding Capital Credits, Ruralite May 2017 Page 4, and What It Means To Be a “Not-For-Profit”, Ruralite April 2017 P. 4;

The Not-For-Profit Difference; Ruralite, January 2018 Page 28

In late 2019, the United States Department of Energy awarded a $1 million grant to NRECA to make solar energy more affordable for communities with fewer financial resources and extend the benefits of solar development to low- and moderate-income consumers.