Illinois utility deposit bonds.
From $100.
Egyptian Electric Cooperative Association, the member-owned electric utility serving southern Illinois from Murphysboro, will accept a surety bond in place of a cash security deposit for a new or reconnected account. The cooperative sets the deposit amount your bond must match. The premium is 2% of the bond amount, $100 minimum.
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How much does an Illinois utility deposit bond cost?
2% of the bond amount, from $100. Enter your amount in the calculator for the exact price.
Three steps. One sitting.
No underwriting queue for the standard deposit bond — enter your amount, pay, and send the bond to the cooperative. Here is the whole thing:
Apply online
Your account details, the deposit amount Egyptian Electric Cooperative required, and the effective date — that is the application.
Issued on the spot
No credit check up to $15,000, so most bonds generate the moment you pay. No credit check up to $15,000.
Send it to the cooperative
Submit the executed bond to Egyptian Electric Cooperative in place of your cash deposit. Wet-ink originals mailed on request.
What it is and who needs it.
What the deposit bond actually does
Egyptian Electric Cooperative Association is a member-owned rural electric cooperative headquartered in Murphysboro, Illinois, serving accounts across Jackson, Randolph, Perry, Williamson, St. Clair, Johnson, Union, Monroe, Franklin, and Washington counties. Like most Illinois electric utilities, the cooperative may require a security deposit on a new or reconnected account, based on its own credit-risk assessment and board policy.
This is not a state-mandated requirement — it is the cooperative's own account policy, and this bond is the surety alternative it will accept in place of tying up cash. It is a three-party arrangement: you (the principal), the surety carrier, and Egyptian Electric Cooperative (the obligee). If your account becomes delinquent for an amount the deposit was meant to secure, the cooperative can make a claim against the bond up to its face amount.
It is not insurance for you — if the surety pays a claim, you repay the surety. Confirm the exact deposit figure on your account notice or with Egyptian Electric Cooperative's member services line before you enter an amount below; we issue the bond to match whatever the cooperative required.
You need this bond if you're
Claims, renewal, filing, and what sets the price.
If a claim is made
A claim comes from the party the bond protects, the obligee named on the form, when the duty the bond guarantees is not met.
The surety investigates and pays a valid claim, up to the bond amount. You then repay the surety: a surety bond is a guarantee of your performance, not insurance for you.
Renewal and term
The premium covers a one-year term from the effective date you choose.
Renew before the expiry date to keep the bond in force: the license, permit or contract it backs expects continuous coverage.
How to file it
Issued on the spot. No credit check up to $15,000, so most bonds generate the moment you pay. No credit check up to $15,000.
What sets the price
The premium is 2% of the bond amount, $100 minimum: the amount the obligee sets moves the price, not your business profile.
No credit check up to $15,000. Above that, the carrier may run a soft pull, which never affects your score.
Where a check runs, it decides approval; the rate is the same for everyone approved.
One application, issued on the spot.
Submit the application with the deposit amount Egyptian Electric Cooperative set — the executed bond is generated instantly, ready to send in.
Start the application →Common questions.
Other Illinois bonds.
Price and requirements checked on the carrier’s application, . Page updated .
Skip the cash deposit, today.
2% of the bond amount, $100 minimum, priced at the application. Enter your deposit figure and send it to the cooperative the same day.