JACKSON – Come this December current customers with a northeast Nebraska telephone company will receive a capital credits payout.
According to release from Northeast Nebraska Telephone Company (NNTC) in Jackson, payouts were normally 11 years behind (in 2018, 2007 customers who were members received checks) but this year for the first time ever, newer customers will also be receiving a payout. The company operates as a cooperative.
This December, 4,800 NNTC customers will receive their payout which will total nearly $4.2 million across the member base.
Much of the payout amount will reflect the amount paid in by customers in the 2008 calendar year. Those who had NNTC services in 2008 and were co-op members will be paid $3.7 million with the remaining funds being allocated to those members who had services in 2018 with NNTC.
As the company continues to grow, its customers benefit. Some customers are often surprised by the money showing up in their mailboxes, but if they’re members during a financially profitable year, the profits belong to the members.
Northeast Nebraska Telephone Company is one of the few telecommunications providers in northeast Nebraska to provide capital credits or money back to its customers. NNTC provides phone, internet and digital television to 30 communities in northeast Nebraska.
Capital credits are unique to the northeast Nebraska company because of its standing as a cooperative or co-op. Telecommunication co-ops have the ability to pay their customers back as the company’s financial situation allows. Since money was made by NNTC, that money stays in the area.
NNTC was founded in 1955 and 1990 was the first year they paid back its co-op members in the form of capital credits. Since 1990, and including this year’s payout, NNTC has paid its members more than $54 million.
The Northeast Nebraska Telephone Company is located at 110 East Elk St. in Jackson and can be reached by calling 888-397-4321 or visit www.nntc.net for more information.