Board members Steve Yotty and Jeremy Kuenster were re-elected to 3-year terms on the board of Kalona Cooperative Technology Company (KCTC) at their Annual Meeting held Tuesday, April 25.
Board president Yotty welcomed those present, including company employees and board members, as well as three other customers and cooperative members, and complimented the KCTC staff for helping the cooperative to another successful year.
President Yotty expressed the pride he feels for the KCTC staff, and the efforts, accomplishments, and sacrifices endured over the past year in order to see the organization find success in a rapidly shifting industry.
Yotty said KCTC had a net income of $1.3 million in 2022 compared to $1.2 million the previous year.
General Manager Casey Peck reported that KCTC remains financially strong after investing over $2.4 million in both Kalona and Washington markets in 2022. She noted KCTC had an increase of 250 member customers this past year.
Peck stated that KCTC had completed the broadband and phone service in Washington. This was a 6-year project. Now KCTC is working on building out broadband between Riverside and Washington and Kalona, plus they are getting ready to embark on providing broadband service between Washington and Crawfordsville.
Peck also noted that KCTC inaugurated a revolving loan fund of about $300,000 in 2022, of which the first recipient was Pleasantview. As funds are paid back, they will become available for other businesses that want to expand or grow in a no interest rate environment.
“KCTC’s long term strategic plan is to remain financially strong while remaining independent,” Peck said. “It is vital that we continue to grow despite the talk of recession and inflation being on the rise. We will look to continue to be key players in building the communities we serve.”
“The goal in the end is to remain independent and not to be purchased by a large company so we can remain true to our values and our mission statement of ‘Providing World Class Technology Services’ with a hometown touch,” concluded Peck.
Five staff members were recognized for employment longevity: Mike Litwiller for 25 Years, Geoff Hyson for 20 years, Mary Miller for 15 years, Julie Gingerich for 10 years, Toni Miller for 5 years.
Peck thanked Sylvan Schlabach for his willingness to serve. Due to a new online voting option made available this year, nearly one third of the KCTC membership cast a ballot in this election. Peck said over 1,300 members voted electronically compared to about 300 paper ballots by mail the previous year.
KCTC is looking forward to all that this year will bring for KCTC and the valued communities it serves, Peck stated.
Yotty concluded the meeting by again praising the efforts of Peck and the KCTC employees and thanked them for their dedicated service. “We have great employees who help make KCTC one of the best community-based broadband service companies in the state,” he said.