Credit Unions to Offer New Energy-Improvement Loans
A new program being offered through credit unions offers homeowners affordable loans for energy efficiency improvements.
The program, from CUNA Strategic Services — (working with LendKey and Conservation Services Group (CSG) — is being offered through credit unions across the country.
Energy efficiency improvements can include upgrades to HVAC (heating, ventilation and air conditioning) systems, roofing, windows, doors and home performance/solar. Utility companies often offer incentives for these upgrades.
Homeowners can save up to 30% off their energy bills by making these improvements, but they still have to come up the cash to have them carried out. That’s where this new loan program comes in.
The program offers access to unsecured loans between $2,000 and $25,000, with loan terms between seven and ten years. CUNA Strategic Services said that rates are “consistently low” – and can be “bought down” by utilities as part of their statewide energy efficiency effort managed by energy efficiency expert CSG.
Homeowners can instantly apply for a loan using LendKey’s technology and access local capital through CUNA Strategic Services’ nationwide network of 6,500 credit unions.
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