NCTC Pays Out More Than $2 Million in Capital Credits

Posted: September 17, 2021

Members benefit from funds plus fiber investment

This year, Christmas came early for NCTC members.

The North Central Telephone Cooperative (NCTC) board of directors voted to distribute more than $2 million in capital credits to members, the first such disbursement in 15 years.

“I’ve received many calls and comments from members thanking us for issuing payments again,” NCTC CEO Johnny McClanahan says. “Being a cooperative is unique and sometimes challenging, but it makes it worthwhile when we get feedback from our members showing their appreciation for what we do.”

About Capital Credits

For cooperatives, profits not invested in infrastructure improvements are returned to members as capital credits. The money is held in a trust until the board of directors determines the cooperative is ready to distribute the payments to members.

After spending more than 14 years building its future-proof 100% fiber-optic network, NCTC recently finished the project. NCTC members across rural Tennessee and Kentucky can connect using faster speeds than what’s available in many large cities.

“Our cooperative is ahead of most national companies in fiber deployment,” says Glen Hardcastle, NCTC board chairman. “It’s exciting to witness such a huge accomplishment after all these years of hard work.”

About NCTC

NCTC, a tier-one Tennessee Broadband Association member, is a leading provider of internet, digital TV, and phone services to more than 20,000 members across north-central Tennessee and south-central Kentucky. Learn more by visiting the NCTC website.