Over $2.2 Million Returned to Members of Paul Bunyan Communications
(Bemidji, MN) (September 3, 2016) – Paul Bunyan Communications is returning over $2.2 million to members through its 2016 Capital Credit return, the cooperative announced today.
Paul Bunyan Communications has mailed out checks to its members representing the remaining capital credits earned in 2001 and 20% of capital credits earned in 2015. All subscribers who were a member in either of those years and accrued over $10 total in capital credit allocations should receive a check in the next few days. The use of capital credit allocations are the cooperative's way of individually identifying each member's share of the company's annual net margins.
"We are extremely proud to once again issue capital credit returns to our members," said Gary Johnson, Paul Bunyan Communications Chief Executive Officer and General Manager, "our cooperative remains strong because of the high quality of services we provide, loyalty of our members, leadership of the Board of Directors, and our dedicated employees."
As a cooperative, Paul Bunyan Communications is owned by the members it serves. Once a member, services that apply towards capital credit allocations include local phone service, Paul Bunyan Long Distance, Broadband High Speed Internet service from Paul Bunyan Net, Paul Bunyan Television, and Minnesota Gold Yellow Page Advertising.
"This is a win-win for both the cooperative and our loyal members. They get high quality communication services at affordable rates and they share in our success," said Brian Bissonette, Paul Bunyan Communications Marketing Supervisor, "the return a member receives is based on the member's patronage and our profit margin from that particular year."
"In today's for-profit business world, it is rare that a customer gets money back from a service provider," added Dave Schultz, Chief Finance Officer, "your cooperative's structure allows us to give back to those who make us successful. It is truly providing service at cost."
If you were a member of the cooperative in 2001 and/or 2015 and accrued more than $10 in total capital credit allocations, but do not receive a check by October 5, please contact Paul Bunyan Communications at (218) 444-1234 or (218) 999-1234.
Paul Bunyan Communications has the region's largest and fastest all fiber optic network covering over 5,000 square miles throughout most of Beltrami County and portions of Cass, Hubbard, Itasca, Koochiching, and St. Louis Counties. The Cooperative provides Broadband High Speed Internet services including the GigaZone, digital and high definition television services, Smart Home services, digital voice services, and more. Capital Credits are distributed whenever economically feasible as determined by the Paul Bunyan Communications Board of Directors. Past performance of capital credit returns are no guarantee of future payouts.