In the furnishing of telephone services, the Cooperative’s operations shall be so conducted that all patrons will
through their patronage furnish capital for the Cooperative. The Cooperative is obligated to account on a patronage
basis to all its patrons for all amounts received and receivable from the furnishing of telephone services in excess
of operating costs and expenses properly chargeable against the furnishing of such services. The Cooperative shall
within a reasonable time after the close of the fiscal year notify each patron of the amount of capital so credited
to his account. If the Board determines that the financial condition of the Cooperative will not be impaired the capital
credited to patrons’ accounts may be retired in full or in part.
| What does all this mean? |
| Simply by being a member of the Cooperative and paying for services means you will likely have amounts allocated to your account that will be returned to you in the future. |
| When will these amounts be returned to me? |
| There is not a set time that capital credits are returned. The Board has many factors to consider when determining when to approve returns. |
| My neighbor received a capital credit check but I didn't. Why is that? |
| When the Board approves a refund they choose the amount from the earliest year yet to be returned. It is likely you weren't a member of the Cooperative at that time. |
| If I move or cease to be a member of the Cooperative do I lose my capital credits? |
| No. Your capital credits amounts are kept in our records. If a return is made when you are no longer a member and you have capital credits on record for the time being returned you will still be sent a check. For this reason it is important that you update us with your new address as you move. |
| I saw my name in a newspaper stating I haven't claimed a refund. What does this mean and what should I do? |
| This means that a patronage refund was mailed to the address on our records but has been returned to us. You should contact the business office at, (540)363-5277, to receive your refund. |
| Will my refund expire at anytime after the check has been mailed? |
| Yes. Six months after the refunds are mailed there will be a list in local newspapers containing the names of those that have not claimed their patronage. Approximately sixty days after notice has been given unclaimed patronage refunds are returned to the Cooperative. |