Garden Valley Technologies

Discounted Capital Credit Buyout Program

GVT’s Board of Directors has approved a Discounted Capital Credit Buyout Program. This program, presented alongside the regular capital credit retirement, opens new doors for members to capitalize on their cooperative ownership. For the first time in its history, GVT members can choose to receive a lump sum payout of their capital credit balance for the years 2002-2022 at a 50% discounted value.

By choosing to participate, members can opt for a single payment at a 50% discounted face value, providing greater financial flexibility compared to the traditional pattern of smaller payments. For example, if a member has a $2,000 capital credit balance, the discounted buyout amount would be $1,000. This opportunity is beneficial for members because it grants them an expedited route to accessing their capital credit payout ahead of the standard retirement schedule.

With a cap set at $3,000,000, the Discounted Capital Credit Buyout Program operates on a first-come, first-served basis, allowing those who act promptly to secure their share. This program is a testament to GVT’s commitment to innovation and its dedication to delivering tangible benefits to its members. Letters were mailed to all past and current members in mid-September and included details about the program, current capital credit balance, payout amount, and an application for the program.

Applications will be processed in the order they are received, emphasizing the program’s fairness. Members whose applications are received before the $3,000,000 cap is reached will be issued their discounted capital credits by check. Checks are scheduled to be mailed in December 2023. All applications received after the $3,000,000 cap has been met will not be eligible for a discounted payout. Those members will maintain their current capital credit balance and will receive future payouts as scheduled.

For those who provide an email address, GVT will communicate the application’s status, eliminating the need for members to inquire about updates. It’s important to be vigilant, though, as there have been instances of fraudulent activities associated with capital credit distributions. The information you provide on the official paper or online form is solely used for eligibility determination; GVT will not request additional information via email. In case of any email correspondence regarding this program, exercise caution and refrain from clicking on any links.

The Discounted Capital Credit Buyout Program is completely voluntary and members are encouraged to decide what makes the most sense for them. GVT plans to continue with quarterly 85+ payouts and will also continue future capital credit yearly distributions based on the Cooperative’s financial condition.

To participate in the Discounted Capital Credit Buyout Program:

Applications will only be accepted between 9:00am Monday, October 9, 2023 through 5:00pm Thursday, October 12, 2023. Applications received outside of that timeframe will not be accepted.

  • Complete the Discounted Capital Credit Buyout Application online at
  • If you are unable to complete the application online, complete the paper application that was sent with the letter you received and drop it off at one of our three retail locations in Bagley, Erskine, or Thief River Falls between 9am – 5pm.
  • Applications cannot be mailed and will not be accepted if received via mail. Only applications received in-person or submitted online will be accepted.
  • Funds will be paid out on a first-come, first-served basis; online submission is recommended.
  • If submitting your application at our office during regular office hours, please make sure to have your application completed prior to arriving.
  • Specific details on in-person application drop-off will be shared on our website and social media channels closer to October.
  • Proper taxpayer identification must be included with all applications (Social Security Number or EIN).
  • Applications for joint memberships must be signed by both members.
  • Any uncollectable balance on a member’s account will be deducted from the discounted distribution.
  • Incomplete or mailed applications will not be accepted.

Click here for Frequently Asked Questions about the Discounted Capital Credit Buyout

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