MINOT — SRT Communications is pleased to announce the distribution of nearly $2.4 million in credits back to its members.
In a decision made by SRT’s Board of Directors, the cooperative will be issuing checks that include a portion of the 2000 allocation and a portion of the 2021 allocation. Checks will be mailed out in early June.
A core benefit of belonging to a cooperative, capital credits represent its members’ ownership equity.
“Capital credits are one of the many ways we can provide real value to our membership. SRT looks forward to this opportunity to share in the cooperative’s financial stability and give back to our members. We are sincerely grateful to them for helping to fulfill our mission and investing in a company they own,” said Kristi Miller, SRT Board President.
How SRT Capital Credits Work
- At the end of the fiscal year, it is determined whether there are excess revenues, called margins.
- The margins are allocated to members as capital credits based upon the amount spent by the member during the year.
- The Board of Directors decides to retire, or pay, the capital credits when the cooperative’s financial condition allows.
- Members are notified how and when they will receive their capital credit distribution.
Members should inform SRT of changes to their current mailing address to ensure they receive any future capital credit retirements.
For more information on capital credits, visit srt.com/capitalcredits or call 701-858-1200.
SRT Communications, headquartered in Minot, North Dakota, is the state’s largest telecommunications cooperative. Established in 1951, SRT employs nearly 200 people and serves more than 48,000 customers across north central North Dakota.