Capital Credits / NNTC Co-op

Contact the business office by calling 888.397.4321 during normal business hours (M-F, 8 am – 4:30 pm) or emailing nntc@nntc.net.

There is a $25 processing fee to change your membership status. If you are interested in doing that, you’ll need to fill out this form: https://nntc.net/membership-application/ and this form: https://nntc.net/w9-form/ 

Northeast Nebraska Telephone Company is a cooperative, and as a customer you are a member of the cooperative after your membership paperwork is filled out, submitted and approved. The members are allocated the profits of the company each year based on the amount of your patronage for that given year. Capital credits are a significant source of equity for most cooperatives and finance growth and expansion, construction projects, operating requirements, and debt retirement obligations.  Joining the NNTC cooperative does NOT cost anything beyond what you already pay for services.

Allocation is the money added to the capital credit account of customers having active services for a specific year. Allocations generally occur in August and are printed on your September bill for current customers. Distribution is the Board approved payout for a portion or percentage of the allocated capital credits to members and is paid typically in November or December.

The allocation amount is determined by company profits, which change every year. The allocation is also a direct reflection of the amount you paid for services.

No. Complete estate payment occurs only upon the member’s death or through the board approved distribution process. As payment of capital credits continue annually they require a current address, keep Northeast Nebraska Telephone Company informed if you move out of the service area.

• Address Change Form

Capital Credits cannot be cashed in or retired immediately after allocation; they are returned through distribution as financial conditions allow.

Upon approval of the Board of Directors, qualifying distribution payments of members (including past or present members) service accounts are paid by check.  If a member’s account is past due, those capital credits are first applied to the account.

A representative of the deceased member should fill out the Application for Capital Credits Payment for Deceased Member Form and then contact the business office. For single membership, capital credits are payable to the estate at the time of member death.

• For joint membership, capital credits are payable at 100% when both members are deceased or at 50% if one member is deceased.
  At that time, a change in the membership name must be made to ensure that future capital credits can be paid to the surviving spouse/member. In this instance, the Application for Capital Credits Payment for Deceased Member Form should be filled out with a copy of the death certificate.
• Application for Capital Credits Payment for Deceased Member Form
• Application for membership

Once all required documents are received and the Board has approved payout, estate payments are usually processed within 45 days.

Depending on the type of business, and upon Board approval, capital credits can be paid. The member/owner should fill out and mail the Application for Payment of Capital Credits for business owners and submit the proper paperwork stated on the form.

• Application for capital credits payment for Dissolved Corporation

Checks are made payable to the person whose name is on the membership account, regardless of who pays the bill.   Joint memberships are split 50/50, unless documented divorce paperwork is submitted.  Members must notify Northeast Nebraska Telephone Company and provide supporting documentation on how to divide the capital credits.

If a name change is required due to marriage, please contact the business office.