Kay Electric deposit bonds.
From $100. Enter your amount.
Instead of tying up cash, Kay Electric Cooperative — the member-owned utility headquartered in Blackwell, serving north-central Oklahoma — lets a member post a surety bond to secure an electric-service account in place of a cash deposit. The cooperative sets the deposit amount from your expected usage; premiums are priced at 2% of the bond amount, with a $100 minimum.
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Apply to filed in one sitting.
No underwriting queue for the standard utility deposit bond — enter your amount, pay, and deliver it to the cooperative. Here is the whole thing:
Apply online
Your member details, the deposit amount the cooperative required, and the effective date — plus a quick soft-pull consent.
Issued on the spot
No waiting — the executed bond is generated as soon as you pay. The soft pull never affects your credit score; larger amounts may get a brief review.
Deliver to the cooperative
Submit the executed bond to Kay Electric Cooperative in place of your cash deposit. Wet-ink originals mailed on request.
What it is and who needs it.
What the utility deposit bond actually does
When you open or hold an account with Kay Electric Cooperative, the cooperative can require a security deposit against unpaid bills — standard practice for new accounts, accounts with a spotty payment history, or accounts the co-op reclassifies after a late payment. Rather than leaving cash on deposit, a member can post a utility deposit surety bond for the same amount — the cooperative is protected, and the member's money stays in their business or household.
It is a three-party arrangement: you (the principal), the surety carrier, and Kay Electric Cooperative (the obligee). If the account goes unpaid, the cooperative can recover the unpaid balance against the bond, up to the deposit amount it set.
It is not insurance for you — if the surety pays a claim, you repay the surety. For most members the bond is simply a cheaper way to satisfy a deposit requirement than tying up the full amount in cash. We price the cooperative's amount at 2% of the bond amount, $100 minimum, after a soft credit pull that never affects your score.
You need this bond if you are
One application, issued the moment you pay.
Submit the application with the deposit amount the cooperative set — the executed bond is generated instantly, ready to deliver.
Start the application →Common questions.
Other Oklahoma bonds.
Bond your deposit, keep your cash.
Premiums from $100. Enter the cooperative’s deposit amount and deliver the same day. Free until issued.