Patronage and Capital Credits
Unclaimed or uncashed patronage checks
As of 2010, Patronage Capital checks have been paid out for the year 1988. Our policy is to hold unclaimed PC checks for at least one year. To see if you have an unclaimed patronage captial check waiting for you, call our office at (907)424-2345. Notice of any future Patronage Capital checks can be accessed here.
What are patronage capital credits? Because CTC is a cooperative, owned by its members, it doesn’t technically earn profits. Instead, if revenues exceed the cost of doing business (expenses), the Co-op earns margins (profits). Each year, margins earned are assigned to members in proportion to the amount each paid for telecommunication services that year. These assigned margins are called patronage capital credits.
Who receives patronage capital credits? All members who have service with CTC during a year the Co-op earns margins are assigned patronage capital credits.
What does CTC do with patronage capital credits? CTC retains patronage capital credits for a period of time to help fund capital projects like new services for subscribers, service to new areas and plant upgrades. This keeps costs down by allowing us to minimize our borrowing and decreases our debt load. This is exactly what patronage capital credits are intended to do – help keep your Co-op financially healthy.
When are patronage capital credits refunded? These funds are distributed when management and the CTC board of directors believes it is a prudent thing to do based on the Cooperative’s financial well being and need for capital to reinvest in infrastructure.
In 2008 patronage capital credits in the amount of $267,472.72 were distributed for the year 1986, bringing the total to $2,090,988.87 of credits distributed to our member-owners since the Cooperative’s incorporation in 1978.
Capital credits are refunded early in situations of deceased members. An additional $30,240.84 has been distributed to the estates of deceased patrons. Unclaimed capital credits are used to fund scholarships for graduating Seniors at CHS and to date over $50,000 has been awarded to these outstanding students!
How will patronage capital credits be refunded in the future? Distributions are decided by the Board of Directors. Their decision may be based on the communications they receive from members, the company’s need for capital on a forward looking basis and the overall financial health of the Cooperative.
Though philosophies may vary from board to board, the CTC Board of Directors anticipates issuing checks whenever the Cordova Telecom Cooperative’s financial viability warrants. One of our cooperative goals is to make patronage capital payments periodically.
Unclaimed customer credits
Cordova Telecom has closed accounts with credit balances. Please search for your name below and call our office if your name is listed so we can update your address today.
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“CTC was one of the first local providers of access to the Internet, America’s information super highway. It’s just one more way CTC brings the world a little closer to its members.”
Cordova Telephone Cooperative, Inc. is committed to the provision, improvement and expansion of quality, competitively priced communication services in Cordova and the surrounding service area. In 1978, the voters of Cordova approved a resolution providing for the transfer of assets of Cordova Public Utilities-Telephone Utility to Cordova Telephone Cooperative, INC (CTC). And thus, a member-owned telephone cooperative was established.
In 1997, CTC again broadened its scope of services and established two subsidiaries, Cordova Wireless Communications (CWC) and Cordova Long Distance (CLD). Cordova Wireless has become a successful cellular provider in Cordova with 12 cellular sites, serving two communities and all of Prince William Sound. Long distance wholesale rates for Cordova Long Distance were available for several years, and CLD started offering service to Cordova in 2012.
Below is a schedule of Patronage Capital payments that have been distributed in recent years. These payments represent the return on patrons contributions to their cooperative.
Small town, but cutting edge! CTC/CWC is everything you want in a small town, co-op, but has all the cutting edge technology that we need to keep our business current.
Just left there (CWC), and I must say… outstanding. Professional, knowledgeable staff, and extremely welcoming. This is how businesses should treat their customers. Thank you very, very much.
We set up 2 phones this week. We had to start with the basics – how do I turn this thing on? Hours later, we are enjoying the world of the ‘smart phone.’ Thanks for your patience and great customer service!
Staff willing to overcome the customer’s challenge and put it right. Staff knowledgeable about any possible glitches. Staff courteous and helpful. Thank you!
CWC is always helpful and friendly. I appreciate the services offered, always a positive experience.
- “You’re doing a great job and I am glad to support local business. Keep up the good work!”
- “You have the best people working here. Great service!”
- “You guys are always so helpful and knowledgeable” – Linee Perkins
- “Good call coverage. It’s nice to have a house phone too. Very good customer service.” – Jonah Dart-McLean
Thank you for answering my many questions and taking the time to figure out the situation when I am having a glitch. You NEVER give up!
I LOVE YOUR STAFF! They are always so kind and helpful (this is not a paid political announcement). They are all wonderful and the guys who come to make service calls as well.”
I love my free Kindle Fire! Thanks, CTC, the only problem is going to be trying to keep Eric from taking it fishing, after I told him how great it is!
Cordova Wireless – best service in PWS Region. Awesome! Forever seeking faster more efficient internet service for the Cordova area.
Dear Cordova Wireless, Thank you for all of your hard work. I think I speak for the majority of Yakutat when I say YOU ROCK!
Amanda Bremner Porter
- “Very helpful when trying to reset router/figure out password for wifi. Had no idea how to do it on my own” – Robert Masolini
- “Excellent! Couldn’t be better. Everyone’s always cheerful & nice” – Marie Nichols
- “You are Cordova customer service oriented at the highest degree. I appreciate that we are important to your company”
- “I appreciate the periodic speed increases at no additional cost” – Barb Bailer
The internet is fast and the signal holds; it doesn’t go on and off. Thanks.
Thank you for spectacular, personal, customer service! – Krysta Williams