this is the Good Life NCC • 1 .800. 245.5884 • nccray.com NCC TO RETIRE $1.2 MILLION IN CAPITAL CREDITS NCC mailed capital credit allocation statements to cooperative members for the year 2024. This statement is sent to each cooperative member after the board of directors approves the previous year’s financials, after expenses are paid, and the remaining funds (margins) are allocated to each member’s capital credit account. The allocation statement you receive is your portion of capital credits assigned to you based on the business you do with the cooperative. These margins are used by the cooperative as capital to operate the business so cooperatives do not retire all of them at the same time. The board of directors’ review on an annual basis if/when/how much the cooperative can retire. At their May board meeting, the NCC board of directors approved a general capital credit retirement in the amount of about $1.2 million. This will consist of $600,000 from the margin allocated in 2000 and $600,000 from the margin allocated in 2024. Checks were mailed in August. Here are some helpful definitions of cooperative terminology: Margins Net income (Revenues minus Expenses) Member Patron of a cooperative who is entitled to service. Patronage Income produced by providing telecommunications services. Capital Credits Income allocated back to members’ capital credit account. Capital Credit Retirement Actual payout of capital credits to members. Allocate The assigned or credited margins to each member ’s capital credit account. For more information about allocation statements and capital credits, please visit our website nccray.com/capital-credits or call us at 1.800.245.5884.
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