Deposits
Attention Members!!
Those members who have paid a deposit - this information will be of interest to you!
Slope Electric has made a few changes to their policy. Members who have retained an “A” credit rating for 12 consecutive months will have their deposit refunded to them by applying it to the electric bill. Interest will be calculated at 5% annually and will be applied annually to the December billing. Upon meeting the criteria, any accrued interest will also be applied along with the refunded deposit.
Deposits will also be returned to the member when the service is disconnected or transferred from the members name and the total amount due to the Cooperative has been paid.
Those of you who have had a deposit with us for quite some time and have met the criteria, compounded interest will be calculated to the deposited amount and will be applied along with the deposit to the electric bill.
