The Valdez Star - Serving Prince William Sound and Copper River Basin

By Lee Revis
Editor, Valdez Star 

The check is in the mail according to CVT

Capital credits will be sent this week to co-op membership

 

Photo courtesy CVTC

It took a big crew to get the large number of capital credit checks ready to mail out to CVTC customers. From left to right are: Laura Kompkoff, Amber McGee, Nan Haley and Lorna Bushong.

Copper Valley Telecom is disbursing $1,831,500 in capital credits to its membership this week.

That's 5,199 checks going out this week to customers with land-line service with the cooperative.

"Anyone having service with CVTC during 1991, 1992 or 2013 will be receiving a check," a press release issued by the co-op said.

This year's payout will be larger than the past according to spokeswoman Joanne Winney, because the 2013 portion of the payout includes unused profits from Copper Valley Wireless, a separate corporation owned by the cooperative.

A cooperative is obligated to pay the credits (all such amounts in excess of operating costs and expenses) to a capital account for each member according to CVT.

"On a regular basis, the board reviews the financial stability of CVTC, ultimately determining if they are financially able to pay out the capital credits to our members," it said.

So how much can you expect to get back from CVT?

"It is based on usage on each customer's bill," said Laura Kompkoff, the co-op's financial controller. "Seventy-five percent of our members will be getting checks for $80 or more."

Photo courtesy CVTC

Checks going down the processing belt at the Valdez headquarters of Copper Valley Telecom.

Winney said the payout – which has been paid out for nine years running – is a good reflection on the financial health of the cooperative.

"It definitely pays to have membership," she said.

For Kompkoff, it's like an unexpected gift.

"I love putting them out before Christmas," she said.

Members with questions on the payout can call the cooperative during regular business

hours.

 

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