Claiborne Electric refunds nearly $700,000 in account deposits

Claiborne electric members who have paid their monthly electric bill on time for the past 36 months will receive a credit on their August or September bill in the amount of the deposit they paid when connecting their account.

“At a time when many of our members are wondering how they will pay monthly expenses, our Board of Directors made the decision to refund deposits on accounts with a demonstrated on-time payment history,” Claiborne Electric General Manager and CEO Mark Brown said. “These members have shown that they are unlikely to disconnect and leave the Co-op with unpaid debt, which is the reason we keep a deposit on file. For many of these members, a deposit refund will mean one to two months without owing an electric bill.”

Brown said refunding deposits after 36 months of on-time payments will continue.

“This is not a one-time refund,” he said. “Any member, no matter how long they have been connected, will receive their deposit back at the point they have paid on or before the due date for 36 months.”

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