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Paul Bunyan Communications sends out capital credit checks

BEMIDJI – Paul Bunyan Communications is returning more than $2.1 million to members through its 2012 Capital Credit return, the cooperative announced this week.

Paul Bunyan Telephone Cooperative has mailed out capital credit checks representing 50 percent of 1999’s allocation and 20 percent of 2011’s allocation.

All subscribers who were a member in either of those years and accrued more than $10 total in capital credits should receive a check in the next few days. The use of capital credit allocations are the cooperative’s way of individually securing each member’s share of the company’s net margins.

“We are very proud to once again issue capital credit returns to our members,” said Paul Freude, chief executive officer and general manager for Paul Bunyan Communications, in a news release. “Despite the continued challenges to the economy, our cooperative remains strong because of the high quality of services we provide, loyalty of our members, leadership of the board of directors, and our dedicated employees.”

As a cooperative, Paul Bunyan Communications is owned by the members it serves. Per the bylaws, membership is established by subscribing to one line of local telephone service. Once a member, other services that apply towards capital credit returns include long distance, Paul Bunyan Net, television, and Minnesota Gold Yellow Page advertising.

“It’s the cooperative advantage and a win-win for our members. They get high quality communication services and they share in our success,” said Brian Bissonette, marketing supervisor for the cooperative.

For 1999 and 2011 members who accrued more than $10 in total capital credit allocations, but do not receive a check by Sept. 28, they are asked to call 444-1234 or (218) 999-1234.