Maquoketa Valley Electric deposit bonds.
From $100.
Maquoketa Valley Electric Cooperative, a member-owned rural electric cooperative, may require a deposit to guarantee payment on a new or reinstated account, and accepts a surety bond as an alternative to a cash deposit under its own membership policy. Premiums cost 3% of the bond amount, $100 minimum.
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How much does a Maquoketa Valley Electric deposit bond cost?
3% of the bond amount, from $100. Enter your amount in the calculator for the exact price.
Three steps. One sitting.
No long underwriting queue for the standard utility deposit bond — enter your amount, consent to a soft pull, and file with the cooperative. Here is the whole thing:
Apply online
Your account details, the service location, the deposit amount MVEC set, and the effective date — plus a one-time consent to a soft credit pull.
Approved
Most utility deposit bonds clear quickly. The application includes a credit consent, but it authorizes a soft pull only — a soft inquiry that never affects your score.
File with the cooperative
Your executed bond and power of attorney arrive by email, ready to file with Maquoketa Valley Electric Cooperative's member services office. Wet-ink originals mailed on request.
What it is and who needs it.
What the utility deposit bond actually covers
Maquoketa Valley Electric Cooperative is a member-owned rural electric cooperative headquartered in Anamosa, Iowa, serving roughly 14,000 members across nine counties in east-central Iowa. Like most utilities, it may ask a new or previously delinquent member to guarantee payment on an account with a deposit, and — as an alternative to tying up cash — accepts a surety bond in its place under the cooperative's own membership policy.
Iowa's member-owned electric cooperatives are generally exempt from Iowa Utilities Board rate-and-service regulation under Iowa Code § 476.1A, unlike investor-owned utilities the Board directly regulates. That means the deposit amount, and the bond option in place of it, is set by MVEC's own policy rather than a Board rule — typically scaled to a member's projected or historical highest monthly bill.
The bond guarantees that the cooperative recovers unpaid charges if you fall behind — it is not insurance for you; if the surety pays a claim, you repay the surety. Enter the deposit figure MVEC set; we price the bond at 3% of that amount, $100 minimum, after a quick soft credit check that never affects your score.
You need this bond if you are
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
File with the cooperative. Your executed bond and power of attorney arrive by email, ready to file with Maquoketa Valley Electric Cooperative's member services office. Wet-ink originals mailed on request.
What sets the price
The premium is 3% of the bond amount, $100 minimum: the amount the obligee sets moves the price, not your business profile.
One soft credit pull, never a hard inquiry, and it never affects your score.
Where a check runs, it decides approval; the rate is the same for everyone approved.
One application, then a quick review.
Submit the application with the deposit amount MVEC set on your account. Most clear quickly; larger amounts may get a brief underwriter review, usually within 48 hours.
Start the application →Common questions.
Other Iowa bonds.
Price and requirements checked on the carrier’s application, . Page updated .
Keep your cash. Post the bond instead.
Premiums from $100, priced at 3% of the bond amount. Enter the deposit figure MVEC set and file with the cooperative the same day.