Lyle Ray King, president of the ATMC (Atlantic Telephone Membership Corporation) board of directors, announced the cooperative has issued more than $1,935,000 in capital credit refunds.
As a membership cooperative, ATMC refunds to its members portions of revenues not used for expenses in a given year. These refunds are called capital credits. In August, ATMC’s board of directors approved a refund of more than $1,935,000 dollars to current and former cooperative members who had service in 1995. Only members who had service during that year will be receiving a check.