Accounts in Personal Name or Joint Accounts:
When opening a new account you must complete a Membership Application. Your name, social security number, and birth date are required on the application in order to verify your identity (if you seek a joint membership, the same information will be required for all parties).
If you have, or have had, an account with Macon Electric Cooperative that shows a good payment record, a credit check may not be required. However, if you have never had an account with MEC, or if you have had an account with several late payment penalties or a delinquent disconnect, a credit check will be mandatory to determine if a deposit is required.
Based on the results of the identity check, a deposit of up to two and a half times the average monthly bill or $250, whichever is greater, could be required. The average usage will be estimated if a one year history is not available.
Accounts For Businesses or any other account not listed:
An initial deposit of $200 or one and a half times the average monthly bill, whichever is greater, will be required for all accounts held in a business name. Should the deposit amount be more than $2,000, other means of guarantee may be authorized by Board action. The average usage will be estimated if a one year history is not available.
Accounts For Church, School, or other Governmental Organizations:
No deposit is required.
Refund of Deposits:
Any security deposit paid by an individual or joint account holders will be refunded if the account receives no more than one delinquent notice during a 12-month time period. However, any account which is not an individual or joint account must have a good payment record, and will need to provide a personal guarantee for the refund to be made.