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JACKSON — Northeast Nebraska Telephone Company is set to pay out capital credits to 5,228 current customers and 1,626 former customers for a total of $4,731,377.13!
While it sounds too good to be true, NNTC can pay customers back because of the company’s status as a cooperative. NNTC is one of seven telephone cooperatives in Nebraska. Co-ops have the ability, with board approval, to pay back earnings to customers when the company’s financial situation allows. Since NNTC made a profit, that money stays in northeast Nebraska, providing an economic boost to the region.
“We’ve been paying back in the form of capital credits every year since 1990. I’ve served on the NNTC board since 1999 and feel that the payments couldn’t come at a better time of year. We are proud to have the financial ability to pay out capital credits while investing back into NNTC’s fiber network”, said NNTC Board President Dave Armstrong.
Checks will be mailed Dec. 3 to 92 percent of NNTC’s current customers. Customers who subscribed to NNTC services – such as phone, TV and/or internet - in the 2014 and/or 2024 calendar years will receive a check. The average check total is about $650. Customers whose payout is below $50 will receive a bill credit. This extra money comes just in time for the holiday season.
