Membership and Security Deposits
In order to secure electric service, a new member must pay a membership fee, security deposit and provide his/her social security number. As an alternative to the security deposit, the co-op will accept one of the following:
- Guarantor Contract/Co-Signer - The co-signer must be a member of this co-op in good standing for two years and sign a guarantor contract stating that he/she will be responsible for up to the amount of the deposit if the final bill is not paid in full.
- Credit check rating acceptable to the co-op;
The security deposit you pay at the time you join Lumbee River EMC begins earning interest after 90 days. The deposit is automatically credited to your account after two years, provided the credit history on the account meets established criteria.
- Army Waiver from Fort Bragg Housing. These alternatives must be in place prior to getting electric service turned on.
If the account is paid later than the past-due date listed on the bill, or if the account appears on the disconnect list, or if a check for payment on the account is returned for any reason, the two year period is extended by the computer until such time as the cirteria for applying the security deposit is met.
Every member is required to sign a membership card. If the card is mailed to you, it is a requirement that the card is signed and returned to the headquarters office. If the card is not returned the account may be subject to disconnection. The membership fee will also be credited back to the account once service had been disconnected and the final bill issued.