Looking to finance a PV system from a lender who won’t respond with blank stares? The Clean Energy Credit Union (CECU), federally chartered in September, has opened its website on November 2nd, in partnership with the American Solar Energy Society (ASES) of Boulder, Colorado. In addition to savings and loan products offered by other credit unions, the CECU will offer specialized financing for clean energy systems or vehicles.
For example, 100% financing with no money down may be offered for solar energy systems that is secured against the system equipment, not the property. Financing could come directly from the credit union or through its cooperative partners. Loans are also available for electric vehicles and energy efficiency improvements.
CECU presently accepts savings accounts and will be offering share draft (checking) accounts and other products by early 2019, according to its website. Their eligibility to join are the estimated 13,000 ASES plus state chapter members, their immediate households, plus staff and volunteers of the CECU.
The credit union also accepts tax deductible donations that will be used to leverage deposits that can be used for financing loans. Located in Boulder, Colorado, the CECU will have a online presence only plus a contact number, (720) 479-7900. The credit union joins a burgeoning number of lenders offering a variety of financial products for the growing PV industry, many of which could be found in websites like EnergySage.com.