The New Hampshire Credit Union League unveiled a new lending initiative designed to help consumers finance projects that increase energy efficiency and allow homeowners to decrease the size of their carbon footprints.
“The New Hampshire Credit Union (NHCUL) Greenlight Loans are truly a win-win for homeowners and the environment,” stated Michael L’Ecuyer, President of Bellwether Credit Union. L’Ecuyer, who chairs the League’s Community Outreach Committee said, “These loans will help home owners make a real and lasting investment in their home, while reducing their long term energy consumption and costs – which ultimately benefits the environment.”
The initiative began when the New Hampshire Credit Union League surveyed its’ membership at the beginning of 2009, to establish a community outreach initiative that benefited consumers statewide. The idea of helping consumers reduce their household expenses, build wealth - while promoting a “green initiative” - was one that the state’s 26 credit unions embraced. Next the League brought together a group of credit unions to participate in the initiative. It was determined that a simple a simple approach would work best. Each of the credit unions set forth its own approach to making energy conservation loans. Several of the credit unions created new products, while others chose to use their existing unsecured (personal) and secured (real estate) loans. The common thread is the commitment the New Hampshire Credit Union League made to aggressively promote and provide these loans, while educating consumers about cost cutting energy options. “We’ll be there to assist consumers with making energy efficient upgrades to their home. If a homeowner could reduce energy savings via a new furnace, improved insulation, installation of energy efficient winds and doors – we want to help. Renewable energy options - such as solar panels - are options the League would also embrace. People need to know that they have access to financing for these projects – with minimal reporting requirements,” added L’Ecuyer.
The New Hampshire Credit Union League Greenlight Loans initiative will be promoted through an aggressive public awareness campaign and online via the League’s consumer information website. On the site, consumers will have contact information on participating credit unions, as well as research best practices in energy conservation, potential tax incentives and grants opportunities for certain projects.