Cooperative
Cooperative Notices
The 69th Annual Meeting will be held on Thursday, May 28, 2026.
James Valley History
Take a closer look at James Valley
The James Valley Cooperative Telephone Company of Groton, South Dakota was incorporated September 8, 1951 and became the successor of the Groton-Ferney Mutual Telephone Company by purchase of the common stock held by Howard B. Fine on December 31, 1951. Telephone service in the area was at that period provided by old magneto 24-hour operator service.
The sleet storm of 1950 destroyed many miles of telephone lines that were never restored. At this time local people, interested in obtaining modern telephone service, realized that if proper equity could be raised, they could secure a Rural Electrification Administration loan to rebuild the old system and make service available to everyone in the entire area. With this in mind, the James Valley Cooperative Telephone Company was formed. In order to qualify for an REA loan, James Valley was required to have title to the physical assets of Groton-Ferney Mutual Telephone Company. A substantial amount of the funds necessary for this purpose was borrowed from Northern Electric Cooperative. Four hundred and sixty shares of Groton-Ferney stock, representing controlling interest of the company were purchased from Howard B. Fine on December 31, 1951. James Valley continued to purchase minority stock until it obtained 93% of the Groton-Ferney stock and dissolved that corporation. Original incorporators were chosen by people in their respective areas and were: Frank Becker, Turton; Norman Berry, Groton; Kenneth Holum, Groton; Lloyd Face, Stratford; J.F. Hopfner, Randolph; Ralph Herseth, Houghton; and J. Al Akerson, Claremont.
From the beginning, the goal of those who organized the Cooperative was to provide the best possible telephone service at the lowest possible cost and at the same time keep the company financially stable.
The membership-at-large elects directors from two or three districts to serve on the Board for a term of three years at the Annual Meeting. The Board of Directors meets monthly.
Headquarters
James Valley took over actual operations in the offices of the Groton-Ferney Mutual Telephone Company in March, 1953. During the 1955 construction, additional offices were established in the Cassels Block and this building also housed materials, supplies and vehicles. The Berry and Werth Building, one block east of Main Street, was purchased in 1958. Remodeling was extensive to provide offices in the front portion of the implement building.
The move was made in early 1959 to the 6,100 square footage building with newly remodeled general offices, vehicle and material storage. Included among these facilities was a community room which was available for public meetings. In 1970 this community room was converted into office area and a conference room. A steel warehouse was added to the building in 1974. During the cable television construction, an equipment room was built in the warehouse area along with the one hundred foot tower and television receiving earth station being placed adjacent to the headquarters office.
James Valley Network Newsletter
Capital Credit FAQs
Welcome to James Valley Cooperative Telephone Company (JVT)! As a subscriber to our services, you are automatically a member-owner of JVT and earn “Capital Credits” on those services that keep you connected.
What is a capital credit allocation?
Your Capital Credit allocation reflects your share of the Cooperative’s operating margins from the previous year. The allocation is tied to your JVT account and can change every year you are an active member-owner of JVT. The amount of funds allocated to each member-owner is calculated based on the total patronage your account has generated with JVT throughout the year. The more services you have, the more you earn. These dollars do not accrue interest.
What is a capital credit retirement?
A Capital Credit retirement is the amount refunded to you, the member-owner. The decision whether or not to retire funds and the date and amount of the refund are determined by JVT’s Board of Directors. Your retirement is paid to you as a statement credit or by check.
Why do I have to wait for the money?
In order to operate the business, Capital Credits remain with the Cooperative for a certain amount of time before they are paid to member-owners. Cooperatives, like any other business, must have money on hand to provide current operating funds and invest in facilities and new technology.
Member-owners have agreed through the Cooperative’s bylaws to use the margins to stabilize operations for the Cooperative. The bylaws also stipulate that the refund of capital credits is based on the financial condition of the Cooperative as determined by the Board of Directors.
What happens to my capital credits if I disconnect services?
Your Capital Credits remain on the books in your name and member number until they are paid to you in the form of a general retirement. Because payments are not made on a regular schedule and can be spread out over many years, you should ensure that JVT always has your current mailing address.
Retirement checks that are returned to JVT due to an incorrect address are listed and published according to state law and Cooperative bylaws.
What happens to the capital credits of a member who dies?
The Capital Credits of a deceased member may be paid without waiting for a general retirement. However, these estate payments are not automatic and will be discounted. A representative of the estate must request the credits with the necessary forms and options. This request will be considered by the Board of Directors. If a retirement is approved by the Board, a check will be issued to the estate and the account closed. Forms may be requested by contacting our office at 605-397-2323.
JVT Board of Directors
President
Garrett Rahm
Secretary
Mark Wattier
Roger Zastrow
Wendell Rye
Vice President
Bob Wegner
Treasurer
Bill Ewalt
Rhonda Borchard
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