I don’t usually share such business-focused press releases, but it’s a good time for good news and it seems like a sign that you can make a business case for rural broadband at Gig speeds…
Instead of the regular fall distribution, Paul Bunyan Communications has sent out the 2020 Capital Credit return early to its members and it is the largest return in the cooperative’s history, over $4.1 million.
Paul Bunyan Communications is a not for profit company that strives to provide the highest quality service at the most affordable rates. As a cooperative, membership in Paul Bunyan Communications includes sharing in the financial success of the company. Profits are allocated to the members based on their proportional share of the allocable revenues. These allocations may then be returned to the individual members through capital credit retirements.
The 2020 distribution includes 20% of credits earned in 2019 and the remaining credits earned in 2002. For current members with a distribution amount of $100 or less, a credit has been applied to your June bill. Checks have been mailed out to members receiving more than $100. “The state of the cooperative is strong and our all-fiber optic network, the GigaZone, is one of the largest rural gigabit networks in the country. This enables our members to keep connected to work from home, distance learn, use telehealth services, watch streaming video, and much more. To help our members in these current circumstances, our Board of Directors felt strongly about paying out capital credits as aggressively and as quickly as possible” said Gary Johnson, Paul Bunyan Communications CEO/General Manager.
“Our cooperative member-owned structure and rural focus allows us to provide technologies and a level of service to our members unlike other providers. We are well prepared and committed to provide our members the critical communication services they need with the local customer service they deserve now and well into the future. Thank you to all of our members for being a part of Minnesota’s largest broadband cooperative!” added Randy Frisk, Board President.
“Our cooperative provides the latest in technology at cost. There is no membership fee to join Paul Bunyan Communications and there are no annual membership dues. To become a member of the cooperative, all you need to do is subscribe to either local phone or broadband Internet service. You get the latest in technology backed up by our talented team of over 130 local employees that all live and work here” added Dave Schultz, Paul Bunyan Communications Chief Financial Officer.