Energy Efficient (EE) Loan

Energy Efficient (EE) Loan

The Energy Efficient (EE) Loan Program.

Loan Terms and Conditions:

  • Actual material and installation costs, not to exceed $10,000
  • 5% interest rate on unpaid balance
  • 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:

  1. Member submits completed Credit Application for EE loan
  2. If approved by Board, member provides invoice(s) confirming loan amount
  3. Member and Co-op execute Consumer Credit Disclosure Form and Installment Note
  4. Co-op issues check to member for loan amount

Application Form:

Credit Application Form

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