Volunteer Energy Cooperative deposit bonds.
From $100. Enter your amount.
Instead of tying up cash as a security deposit with Volunteer Energy Cooperative, an applicant for electric service in its southeast Tennessee territory can post a surety bond for the same amount. VEC sets the deposit figure — for General Power and industrial accounts over 50 kW, its own service policy names a bond as one of the accepted alternatives to cash — and the premium is 2% of the bond amount, $100 minimum; enter your amount in the calculator below for your exact price.
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Apply to filed in one sitting.
No underwriting queue for the standard utility deposit bond — enter your amount, pay, and file with VEC. Here is the whole thing:
Apply online
Your account or business details, the deposit amount VEC set, and the effective date — that is the entire application.
Issued on the spot
Most applicants have the bond generated as soon as they pay, no waiting. The application collects no credit information; if a check ever runs on a larger amount, it is a soft pull that never touches your score.
File with VEC
Submit the executed bond to Volunteer Energy Cooperative in place of the cash deposit on your account. Wet-ink originals mailed whenever the cooperative insists.
What it is and who needs it.
What the utility deposit bond actually covers
When you apply for, reconnect, or hold a Volunteer Energy Cooperative electric account, the cooperative can require a security deposit — sized by a credit-risk classification for residential members, and by roughly two months of estimated billing for General Power and industrial accounts. Rather than leave that cash sitting with the cooperative, VEC's own security-deposit policy names a surety bond in the amount of the deposit as an accepted alternative for General Power and industrial consumers over 50 kW, alongside an irrevocable letter of credit or an assigned savings account.
The bond is a payment guarantee in lieu of the cash deposit: it stands behind the electric charges on your account. If the account goes unpaid and the deposit would have covered it, VEC can recover against the bond instead of drawing down a cash deposit.
It is not insurance for you — if the surety pays VEC, you repay the surety. The advantage is cash flow: you pay a small premium — from $100 — rather than locking up the full deposit amount. Enter the figure VEC set on your account notice and your exact price appears at the application.
You need this bond if you are
One application, issued on the spot.
Submit the application with the deposit amount VEC set — the executed bond is generated instantly, ready to file in lieu of the cash deposit.
Start the application →Common questions.
Other Tennessee bonds.
Utility deposit bond, issued today.
Premiums from $100 — your exact price appears at the application. Enter the deposit VEC set and file the same day.