--- title: Record-breaking Capital Credits Coming in 2020 description: GVTC is excited to announce a record-breaking Capital Credits amount this year. In addition, members will be issued their credits in a new way. image: https://blog.gvtc.com/hubfs/board.png --- Search ![](https://blog.gvtc.com/hubfs/board.png) # Record-breaking Capital Credits Coming in 2020 Published by [ Paula Novodvorschi ](https://blog.gvtc.com/author/paula-novodvorschi) on May 22, 2020 In a unanimous vote by the current GVTC Board of Directors, we’re excited to announce that GVTC members are to receive record-breaking [Capital Credits](https://gvtc.com/gvtc-library/annual-meeting-capital-credits/capital-credits) this year. In addition, members will be issued their credits in a *new, more efficient, way*. ![board](https://blog.gvtc.com/hs-fs/hubfs/board.png?width=541&name=board.png) ## **Membership Benefit** [GVTC](https://gvtc.com/) is a tax-exempt, member-owned Texas Cooperative, which means any revenues over and above its operating expenses are returned to its active members in the form of Capital Credits. This year, GVTC is excited to announce a record-breaking Capital Credit issuance amounting to $7,250,000 in 2020, an increase from our 2019 Capital Credits amounting to $7 million. Led by the [GVTC Board of Directors](https://blog.gvtc.com/gvtc-blog/2020/02/05/meet-your-2020-gvtc-board-of-directors), GVTC has released more than $50 million over the past ten years. "GVTC's ability to issue annual Capital Credits this size is a testament to the hard work of our dedicated employees and the visionary leadership of our Board of Directors," says CEO & President, Ritchie T. Sorrells. 160335001 ## **New Way of Issuing Capital Credits** This year, GVTC will be applying each members' Capital Credits to their next bill. If you are a member, you should see that credit in your upcoming monthly June statement. The GVTC Board of Directors annually reviews the cooperative's financial status to decide if capital credits are feasible and, if so, by how much. The amount released is in large part thanks to initiatives like our Member Dividend Program, [GVTC Premium WiFi](https://promo.gvtc.com/premiumwifi) launch in September 2019, and the continuous fiber overbuild project in our service area. "GVTC is a unique cooperative working to enhance the communities it serves, and the Board of Directors strives to aid in that mission as best we can. It's truly a team effort," comments GVTC Chairman of the Board, Chuck Knibbe. Overall, GVTC attributes it’s record-breaking $7,250,000 Capital Credits to its local roots and loyal customers. Tags: [GVTC](https://blog.gvtc.com/tag/gvtc) [Back to Blog](https://blog.gvtc.com) ## Related Articles ## [2021 Brings Another Year of Record-Breaking Capital Credits!](https://blog.gvtc.com/2021-brings-another-year-of-record-breaking-capital-credits) We are so excited to announce that GVTC members are to receive record-breaking Capital Credits this... [Read More ](https://blog.gvtc.com/2021-brings-another-year-of-record-breaking-capital-credits) ## [GVTC Set to Release Capital Credits](https://blog.gvtc.com/gvtc-set-to-release-record-breaking-capital-credits) As we near summer, you can expect to receive your Capital Credits again this year. However, in a... [Read More ](https://blog.gvtc.com/gvtc-set-to-release-record-breaking-capital-credits) ## [GVTC Announcements in Lieu of 2020 Annual Meeting](https://blog.gvtc.com/gvtc-2020-annual-meeting) Despite postponing its 2020 Annual Meeting, GVTC continued its tradition of announcing the Board of... [Read More ](https://blog.gvtc.com/gvtc-2020-annual-meeting)