A deposit will be required on new accounts. To waive a Member Deposit, new member(s) will have a “soft” credit check run on those listed on the Application, if satisfactory the deposit will be waived, otherwise a deposit will be required.
If a current member is applying for additional service, a payment history of the last 24 months with the cooperative will serve to establish a satisfactory credit, if it does not then a deposit will be required.
Location with History of usage – 1/6 Annual Billing for Residential/Commercial or minimum deposit amount, whichever one is greater.
Minimum Deposit Amount for Location without History of usage:
- Commercial = $500.00
- Residential = $300.00
Return of deposit
All deposits are credited to active account after 24 consecutive billings (with no discontinuation of service due to non-payment or delinquent more than two (2) times) or are applied against outstanding bills upon disconnection of electric service or refunded.
If you have any questions regarding your Member Deposit you may contact our Member Service Department at 903-683-2248 or 1-800-992-4280. Office hours are from 7:00 a.m. to 5:30 p.m. Monday – Friday.