A credit check will be performed on all new memberships in the REMC.
Your deposit is determined using the following criteria:
Minimum Credit Risk - No Deposit is required.
Medium Credit Risk - 1.5 times an average monthly bill but not less than $100.
High Credit Risk - 2 times an average monthly bill but not less than $100.
After 24 months of satisfactory payment record, the deposit will be applied to the current bill. Any remaining credit will be carried forward to the next bill. Satisfactory payment record is no more than three late payments, no disconnects due to non payments, or no more than 1 NSF check/ACH.
If applicant refuses to provide the needed information or can not provide sufficient information to obtain a credit score, then a deposit of 2 times an average monthly bill but less than $250 will be required. When an appropriate credit score can be determined, your deposit may be credited to your account upon request.