The terms and conditions for residential deposits are as follows:
Applicants for First-Time Service
The standard residential deposit for a new account will be the greater of $350.00 or two and a half monthsâ€™ estimated billing. Applicants with an acceptable credit score may secure a residential service with no deposit or a reduced deposit of $200.00.
Existing Members Establishing New or Additional Service
Members who have received service continuously for the preceding 12 months from the cooperative, have not been on the collection list more than once in the last 12 months, have no more than one insufficient funds check in the last 12 months, and have not been disconnected for non-payment in the last 12 months may have their existing deposit reduced to $200.00 or may secure an additional service with no deposit. Applicants with a prior account listed as uncollectible or past due may secure service upon paying any amount owed the cooperative and a deposit of the greater of $350.00 or two and a half monthsâ€™ estimated billing.
Deposit Upgrade Program
Residential deposits will be increased to the greater of $350 or two and a half monthsâ€™ averaged billing on accounts which:
- Have been disconnected for non-payment in the last 12 months,
- Have been on the collection list more than once during the past 12 months, or
- Register more than one insufficient funds check during the past 12 months.
Read more about theÂ Deposit Upgrade Policy.