Among the many advantages of HTC membership is the annual allocation of Capital Credits. Here's a quick overview of the Capital Credits process and how it works to benefit you.
The Cooperative Advantage. When the Cooperative collects more member revenue than operating costs, the remainder is allocated among the members based on their respective support of membership services provided by the Cooperative through the assignment of Capital Credits. |
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This year, HTC will return more than $4.7 million in Capital Credits to our members, representing a percentage of the 1994 and 2010 allocations. Members with qualifying services during these years will be paid Capital Credit allocations. Since 1979, HTC has now returned over $90 million to our members in the local community. None of our competitors can make that claim.
How Does HTC Determine Capital Credits Payments?
Between the time of Capital Credit assignment and ultimate payout, the credits are used as a source of working capital to finance facility and network upgrades, or to reduce the Cooperative's debt dependency. Each year the Board of Directors reviews the overall financial condition of the Cooperative and decides what portions of Capital Credit allocations can be returned to the membership without jeopardizing the financial health of the organization.
Capital Credits paid to members are proportionate to the amount of dollars they have spent on HTC services that are associated with a member's account. Qualified services include HTC phone, cable television, wireless phone, internet and security.
We Appreciate Your Business.
For nearly 60 years, HTC has invested in the people and communities of Horry and Georgetown counties. And we appreciate the opportunity to serve you. HTC makes every effort to ensure that all refunds are returned to the appropriate member. Members are contacted by mail concerning Capital Credit refunds, with correspondence/refund going to the address on file. Therefore, it is very important if you relocate out of the area, to keep your forwarding address information current with HTC. If a refund is returned due to invalid address, additional attempts will be made to notify the member through the newspaper and the HTC website.
If you have questions concerning your Capital Credit allocations, please contact an HTC Accounting Representative at (843) 369-8530 or 1-800-824-6779.
Special Note:
Some Capital Credit refunds will be handled a little differently again this year. If your refund is less than $25, you will see the appropriate amount credited on your September bill in lieu of receiving a check. The refund will be identified as "Capital Credit Refund" on your bill. This procedure, which HTC implemented two years ago, will save your Cooperative thousands of dollars in mailing and processing costs and provides an immediate benefit to members. If your refund is more than $25, you will receive a check in the mail as you have in the past. Checks were mailed the beginning of September.
