Maquoketa Valley Electric deposit bonds.
3% of the bond amount.
Maquoketa Valley Electric Cooperative — a member-owned rural electric cooperative headquartered in Anamosa, serving roughly 14,000 members across nine east-central Iowa counties — 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. Iowa's electric cooperatives are generally exempt from Iowa Utilities Board rate-and-service regulation, so this option is set by the cooperative rather than a state rule. Premiums cost 3% of the bond amount, $100 minimum.
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Apply to filed in 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
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.
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.