Sep 28 2009
State Employees’ Credit Union (SECU) has recently expanded its “green” program offerings to included a Green Second Mortgage. This new loan product is designed specifically for energy efficient improvements such as replacement windows, heating/air conditioning systems, insulation, solar water systems and Energy Star appliances. As much as $50,000 may be financed for up to ten years with at least 75% of the proceeds used for energy efficient improvements.
Phil Greer, SECU Senior Vice President of Loan Administration comments, “State Employees’ Credit Union encourages its membership to seek energy efficient home improvements in order to cut costs and save on their utility bills. It is important that we provide members with beneficial loan products to help them with these endeavors and we are very happy to have a Green Second Mortgage available specifically for such improvements. There are also some Federal and State tax credits and utility company rebates to assist homeowners who make energy efficient home improvements and we recommend that our members take advantage of those as well.”
The Green Second Mortgage complements SECU’s other green loan products, which include a Green First Mortgage and Green Vehicle loan. The Credit Union also promotes a variety of environmentally friendly services such online E-statements and BillPay, Direct Deposit and Mobile Access for those with a web-enabled mobile device.
In addition to services, members of State Employees’ Credit Union support a variety of green initiatives through their partnership with NC GreenPower, a Raleigh-based non-profit that works with participants of electric utilities across the state to encourage the development of renewable energy through voluntary tax-deductible contributions. In 2007, SECU members via the SECU Foundation began a four-year commitment to support cleaner, renewable energy alternatives for North Carolina through the funding of one kilowatt hour of renewable energy production in the State for each member --- a commitment to renewable energy in North Carolina of over 5.2 million kilowatt hours!
NC GreenPower Board member and SECU Senior Executive Vice President Bobby Hall states, “NC GreenPower is very appreciative to SECU and its membership for their dedication to cleaner energy options for the citizens of North Carolina. The Credit Union’s initiatives to provide members with green loan products and services further emphasize SECU’s commitment to promote energy efficiency.”
Source: http://www.ncsecu.org/