Capital Credit News
- Date: June 25, 2018
- Author: Troy Radermacher - Accounting Manager
With our annual audit complete, we can put 2017 behind us and allocate the profits of the company back to the members who are so important to us. To be a member of the cooperative you must purchase local telephone service. Your local line and any other services with the phone like caller id, call waiting and NDLD long distance services all qualify as patronage allocable services. In 2018, internet service also qualified you to become a member of the cooperative and those dollars will be considered patronage allocable. Patronage is the dollar amount you spend on local phone services for the year. Once the year is over, we calculate the amount you spent on these services to figure out what your stake in ownership is for that given year. The more you spend, the more in profits you’ll get allocated back. The amount that each member will be allocated back for services purchased in 2017 will show up on the first page of your July bill in the message statement. The amount listed will be paid out at a future date that is determined by Dickey Rural Telephone’s Board of Director’s.
While we’re talking about future payouts, Dickey Rural has had a great track record of paying out capital credits over the years which generally occurs in December each year. With the issuance of these checks we’ve had many people who appreciate the extra cash they receive right before Christmas. We also have a large list of people who don’t cash their checks because they either forget to cash the check or they just threw our letter away without opening it to see that we tried to send them a check. The total amount of credits the company is holding that have not been cashed sits at $376,744.30. Every year we publish the names of these individuals in our newsletter in the hopes of getting these funds to the rightful owners. Another way we try to reach people is to publish their names on our website. If you haven’t checked this out before, please visit http://drtel.com/about-us/capital-credits/ to see if your name is on the list. If it is, please call 701-344-5000 and we can send you a check or apply it towards your bill. Doing so may allow you to take the family out for supper, enjoy some ice cream or make your summer vacation a little more enjoyable.