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Business of the Cooperative

Being a Member of a Cooperative Really Pays!

GRM Networks is a nonprofit member owned cooperative. Payments received from members of GRM Networks that exceed the cost of providing services are allocated to each member as patronage capital, and periodically paid out to the member owners as capital credits. The Board of Directors determines on a yearly basis the amount of outstanding patronage capital credits (if any) that can be paid back to members. GRM Networks has paid capital credits for 33 consecutive years, totaling more than $61.6 million.

What Happens To My Capital Credits When I Die?

If a member dies before all patronage capital has been paid to the member, the remaining amount is paid out to the beneficiary or legal representative. The designation of a beneficiary simplifies and expedites the process of paying out the deceased member’s capital credits and helps ensure these capital credits are paid in a timely manner.

If a beneficiary election is not on file, the person receiving the capital credits must present documentation showing they are the executor or legal representative approved to handle the affairs of the deceased member. Obaining this documentation may require the services of an attorney.

Beneficiary forms are free, simple and may be updated at any time. Keeping the beneficiary form up-to-date is important. For example, a member might update their form any time a significant change in their life happens.

Completed and notarized forms should be returned to the Princeton business office at:

GRM Networks
Attention: Elizabeth Polsdofer
1001 Kentucky Street
Princeton, MO  64673

Once the completed beneficiary form is returned to the Princeton office, the member’s information will be updated to include their beneficiary election.

Memberships in the name of businesses are not eligible for beneficiary assignment.

GRM Networks® Distributes More Than $5.5 Million in Capital Credits to Member-Owners

The GRM Networks Board of Directors has authorized the return of approximately $3 million in patronage capital credits to its member-owners. This includes approximately $2.4 million paid to members with service in 1999 and $611,000 paid to members with service in 2022. This year, GRM Networks has also returned more than $2.5 million to the estates of deceased members. Combined, a grand total of more than $5.5 million will be returned to members, or their estates, in 2023.

The December 2023 check distribution marks the 35th consecutive year GRM Networks has paid capital credits to member-owners. Since 1989, members of the cooperative have received more than $70 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 2023 capital credit checks were mailed the third week of December. For more information, or to report a change of address, members may contact Elizabeth Polsdofer at 660-748-2470.

2023 ANNUAL MEETING OF STOCKHOLDERS

GRAND RIVER MUTUAL TELEPHONE CORPORATION

d/b/a GRM NETWORKS®

The 2023 Annual Meeting of the stockholders of Grand River Mutual Telephone Corporation d/b/a GRM Networks was held at 10 a.m. August 16, 2023, at the GRM Networks corporate office in Princeton, Missouri.

Directors with terms expiring were:

  • Gregg Davis, Chula, Missouri
  • Mark Yungeberg, Princeton, Missouri
  • Ray Meyer, Conception Junction, Missouri

Davis, Yungeberg and Meyer were re-elected for three-year terms.

Fifty people attended the Annual Meeting at the office and 2,018 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 Mark Yungeberg of Princeton, Missouri, Ray Meyer of Conception Junction, Missouri, and Gregg Davis of Chula, Missouri. All three were re-elected to the GRM Networks Board of Directors at the 2023 Annual Meeting of the stockholders of Grand River Mutual Telephone Corporation d/b/a GRM Networks.