October is Capital Credit Month!
The Cooperative succeeds each year because of the exceptional member-owners like you who make up our communities! When TrioTel performs well financially, so do our members. It was announced at the Annual Meeting in September that the TrioTel Board of Directors approved the capital credit retirement for 2022 consisting of 10% of 2021, the balance of 2010 and a portion of 2011.
If you are a current customer and your capital credit payment is equal to or less than $50, it will be applied directly to your October invoice. Amounts over $50 will be issued a check and will be mailed the first part of October.
Because TrioTel is a non-profit, member-owned communications cooperative, we allocate margins to our member-owners based on the amount of dollars spent on applicable services during the year. Thank you for being a TrioTel member!
Frequently Asked Questions
How do I contact TrioTel with my capital credits questions?
If you don’t find the answer you need in the questions below, you can reach TrioTel at (605) 425-2238. You also can send a message to firstname.lastname@example.org or through our Contact Us page. Please include your name, current address, phone number and, if possible, your member number. We will reply as quickly as possible.
Why am I receiving a capital credits check, and is it okay to cash it?
Members receive capital credit checks because you lived within the cooperative service area and had either telephone and/or internet service during the years which the board has approved to retire.
Why did I receive more than one check?
TrioTel must create a new membership account if you make any changes to an account’s ownership. You will continue receiving checks for both the old and new membership accounts until we retire all patronage amounts in those accounts. Example: John Doe adds his wife Susan to the account. For a period of time, John will get checks for John Doe and for John and Susan Doe until TrioTel pays out all capital credits under the old membership.
What do I do if I receive a check that’s more than $600?
The IRS requires TrioTel Communications, Inc. to send a 1099 to any member receiving a capital credit payment of $600.00 or more. While we are required to report this payment to you on a 1099, the taxability or non-taxability of this payment is an item to be discussed with your tax preparer.
How do I become eligible to receive capital credits?
Capital credits are allocated to members of the cooperative. To become a member, you must have TrioTel telephone or internet service in one of the following exchanges: Alexandria, Canova, Center, Clayton, Emery, Salem, Spencer or Winfred.
Why is my capital credit payout amount different than my capital credit allocation amount?
The capital credit allocation amount is based on the dollars you have spent on eligible services throughout the previous year. The capital credit payout amount is based on unretired allocations of past years, decided by the TrioTel Board of Directors annually.
Why aren’t the allocations paid out all at one time?
TrioTel Communications, Inc. is a non-profit, member owned cooperative. At the end of each year the margins or profits are allocated to the members in proportion to the amount of dollars spent on applicable telecommunications services. This amount is placed into a separate account. The goal is to ultimately refund this amount to you. In the meantime, it serves to provide adequate cash flow for reinvestment in the business and show the financial stability that is required to obtain loans from our lenders. The amount paid out each year is subject to the discretion of the Board.
Is there any reason that I would not receive a capital credits refund?
You will only receive a payout if you were a member of the cooperative in the years included for retirement, those years being 2010, 2011, and 2021.
If you live outside of TrioTel’s cooperative service territory, you won’t receive capital credits.
What should I do if I move so I can keep receiving capital credit checks?
To receive your capital credits checks once you leave our service, it is important to keep us informed of your current address. Many checks go unclaimed each year because we are unable to locate previous members.
How do I find out if I have any unclaimed capital credits checks?
If you think you may have unclaimed capital credits checks, please contact our office or click here.
What happens if a member passes away?
By request, the capital credits can be paid out in full. Contact our office to do so.
Do I have to report the allocations or capital credits checks as income?
The best advice we can give you is to contact your tax preparer.« Back to Blog