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Allen Russ, CEO/General Manager of Atlantic Telephone Membership Corporation (ATMC), recently announced the cooperative will issue more than $1.75 million dollars in capital credit refunds.
Since ATMC is a membership cooperative and is owned and governed by its members, the company refunds its subscribers portions of revenues not used for expenses in a given year. These refunds are called capital credits. This year, ATMC’s Board of Directors approved a refund of more than $1.75 million to current and former cooperative members who had service in 1994.
Lyle Ray King, ATMC board president, commented, “With today’s uncertain economic times, the board of directors is pleased to be able to give back one of the largest capital credit refund disbursements ever issued. ATMC has a long history of giving back to its members and has issued more than $22 million dollars in capital credit refunds since 1988. Our ability to do this is a tremendous benefit to our members and the Brunswick County economy.”
ATMC is a member-owned cooperative providing communications services, including telephone, long distance, paging, business systems, wireless, Internet/Broadband and cable television service in Brunswick County.
Serving Brunswick County since 1957, the cooperative provides service to more than 39,000 members and employs close to 200 county residents. It is the largest telephone cooperative in North Carolina and one of the largest in the country.