ENERGY EFFICIENT (EE) LOANS
Actual material and installation costs, not to exceed $10,000, 5% interest rate on unpaid balance and term not to exceed 84 months.
Loan funds available for:
- Caulking
- Wall, floor, ceiling, duct, pipe and water heater insulation
- Storm or thermal windows and doors
- Clock thermostats
- Attic ventilation fans
- Electric water heaters, which reduce consumption of electricity
- Devices that reduce the maximum coincidental or non-coincidental demand on the electric system
No loan funds available for:
- Labor when member/applicant self-installs materials
- Refinancing existing obligations
- Cost of measures in progress or already completed
- Cost of measures in structures planned or under construction
Payments:
- Co-op bills monthly
- No penalty for early repayment
- Balance due and payable upon termination of membership or change of property ownership
Applications are subject to approval by board of directors
Property owner must co-sign loan made to renter
Application Process:
- Member submits completed Credit Application Form for EE loan
- If approved by Board, member provides invoice(s) confirming loan amount
- Member and Co-op execute Consumer Credit Disclosure Form and Installment Note
- Co-op issues check to member for loan amount