Oct. 21, 2014: Partnership to Provide Residential Energy Efficiency Loan Program
The Program Will Provide Nationwide Loans for Energy Efficient Home Upgrades
WESTBOROUGH, Mass. — To make it easier for homeowners to secure affordable loans for energy efficiency improvements, three complementary organizations are joining forces: Conservation Services Group (CSG), CUNA Strategic Services (CSS), and LendKey. Through the program, homeowners will be able to quickly apply for a loan using LendKey’s advanced online technology, access local capital thanks to CUNA Strategic Services’ nationwide network of 6,500 credit unions, and, ultimately, secure energy efficiency work through energy efficiency programs implemented by CSG.
Among the benefits of the new energy efficiency loan program are: Access to unsecured loans between $2,000 and $25,000, which will be processed online; loan terms of between seven to 10 years; and a consistent low rate, which can be optionally “bought down” by utilities that participate in the program as part of their statewide energy efficiency effort managed by CSG. Another benefit of the product is the promotion of jobs and stimulating the local economy by using local credit unions and employing local contractors.