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Annual Meeting and Capital Credits

2021 ANNUAL MEETING OF STOCKHOLDERS

GRAND RIVER MUTUAL TELEPHONE CORPORATION

d/b/a GRM NETWORKS®

The 2021 Annual Meeting of the stockholders of Grand River Mutual Telephone Corporation d/b/a GRM Networks was held at 10 a.m. August 18, 2021, at the GRM Networks corporate office in Princeton, Missouri.

Directors with terms expiring were:

  • Kyle Kelso, Weldon, Iowa
  • John McCloud, Spickard, Missouri
  • Allan Mulnix, Bethany, Missouri

Kelso, McCloud and Mulnix were re-elected for three-year terms.

Twenty-eight people attended the Annual Meeting at the office and 2,036 were represented by proxy.

The Board of Directors elected officers at their regular board meeting held immediately following the Annual Meeting. Elected were:

  • President Gregg Davis of Chula, Missouri
  • Vice President Mark Yungeberg of Princeton, Missouri
  • Secretary Bruce George of Allerton, Iowa
  • Assistant Secretary Ray Meyer of Conception Junction, Missouri
  • Treasurer John McCloud of Spickard, Missouri
  • Assistant Treasurer Allan Mulnix of Bethany, Missouri

Pictured above from left to right are Kyle Kelso of Weldon, Iowa; Allan Mulnix of Bethany, Missouri, and John McCloud of Spickard, Missouri. All three were re-elected to the GRM Networks Board of Directors at the 2021 Annual Meeting of the stockholders of Grand River Mutual Telephone Corporation d/b/a GRM Networks.

    GRM Networks® Distributes More Than $5.4 Million in Capital Credits to Member-Owners

    The GRM Networks Board of Directors authorized the return of approximately $3.5 million in patronage capital credits to its member-owners in 2020. This includes $2.8 million paid to members with service in 1997 and 1998 and $700,000 paid to members with service in 2019. The same year, GRM Networks also returned more than $2 million to the estates of deceased members. Combined, a grand total of more than $5.4 million was returned to members, or their estates, in 2020.

    The December 2020 check distribution marks the 32nd consecutive year GRM Networks paid capital credits to member-owners. Since 1989, members of the cooperative have received more than $55.5 million in patronage capital credits.

    GRM Networks proudly supports the local economy through its investments in the communities served such as the payment of local taxes and the employment of more than 100 full-time employees. GRM Networks provides scholarship programs and learning opportunities for area youth, distributes quarterly community improvement grants to local organizations and sponsors numerous community events.

    The 2020 capital credit checks were mailed the third week of December. For more information, or to report a change of address, members may contact Kerrie Gannan at 660-748-2320.