Energy Efficiency Loan Program


Kitsap Credit Union, Kitsap County and the City of Bainbridge Island have developed an innovative alliance to create an Energy Efficiency Loan Program to make it easy for homeowners and small businesses to make cost saving improvements that will conserve energy, increase comfort, and protect the environment.


Energy Efficiency Fixed Rate Home Equity Loans*
(Effective: January 3, 2012)
  APR** Maximum Term Maximum LTV
Owner Occupied 4.00% 180 80%
 
Owner Occupied 5.00% 180 100%
 
* The rate for which a borrower qualifies may depend upon the borrower's credit score, term of loan, down payment, and past credit performance. This rate schedule sets forth certain conditions, rates, fees and charges applicable to your accounts at the Credit Union at this time. The Credit Union may offer other rates or amend the rates contained in this schedule from time to time.
** APR refers to the minimum Annual Percentage Rate. For example:  A Home Equity Loan of $15,000 with an interest rate of 4.00% and a term of 180 months would expect to pay $110.95 monthly with an APR of 4.00% 


Energy Efficiency Signature (Unsecured) Loans*
(Effective: January 3, 2012)
  APR** Maximum Term
Signature Loan 4.50% 24
 
Signature Loan 4.50% 36
 
Signature Loan 4.50% 48
 
Signature Loan 4.50% 60
 
* The rate for which a borrower qualifies may depend upon the borrower's credit score, term of loan, down payment, and past credit performance. This rate schedule sets forth certain conditions, rates, fees and charges applicable to your accounts at the Credit Union at this time. The Credit Union may offer other rates or amend the rates contained in this schedule from time to time.
** APR refers to the minimum Annual Percentage Rate. For example:  An unsecured loan of $5,000 with an interest rate of 4.50% and a term of 48 months would expect to pay $114.02 monthly at 4.50% APR  


Sponsers:
 
 
 

This project was supported by Grant No. DE-EE0000853and Grant No. DE-EE0000849 awarded by US Department of Energy. Points of view in this document are those of the author and do not necessarily represent the official position or policies of the US Department of Energy. Grant No. DE-EE0000849 grant funds are administered by the State Energy Office, Washington State Department of Commerce.

Financing can be used for:

  • Air Sealing, Attic Insulation, Duct Sealing, Water Pipe and Heater Wrap
  • Wall, Floor and Duct Insulation and Ventilation
  • Heating and Cooling Systems
  • Water Heating Systems
  • Window and Door Replacement
  • Energy Efficient Lighting Upgrades
  • Low Flow Water Fixtures
  • ENERGY STAR Appliances
  • Heat Exchangers
  • Renewable Energy Sources in combination with Energy Efficiency Projects: Solar, Wind, Biomass or Geothermal

What kinds of loans are available?

  • Unsecured Home Improvement Loan
    Borrow from $1,000 to $10,000 with a term up to 5 years
  • Home Equity Loan
    Borrow from $10,001 to $50,000 with a term of 15 years
  • Business Improvement Term Loan
    Borrow from $5,000 to $25,000 with a term of up to 7 years

What’s in it for me?

  • Energy and Cost Savings
  • Increased Comfort
  • Affordable Financing Options from your Trusted Local Credit Union
  • Streamlined, worry free loan process with no loan origination fee

Who can I call for more information?


Energy Efficiency in 5 Easy Steps


Step 1:

Sign up for a home energy assessment from a qualified building analyst.

A home energy assessment will provide you with a comprehensive analysis of your home's specific energy attributes (windows, insulation, weather-stripping, etc.) and heating systems. It will help you evaluate how to make your home more energy efficient and save you money.

Step 2:

Identify energy efficiency project upgrades for your home in consultation with your energy assessment professional.

You will receive information on how energy-saving upgrade options interact with each other and a list of efficiency upgrades that are appropriate for your home.

Step 3:

Obtain bids from qualified contractors to perform weatherization upgrades for your home. Available contractors.

Step 4:

Apply for an Energy Efficiency loan from Kitsap Credit Union to cover the cost of your weatherization upgrades and open a KCU membership. (Pre-approvals are available on request.)

a. To start an application over the phone call 1.360.662.2000 or visit any one of our locations

b. Provide a copy of your home energy assessment

c. Provide contractor bids or energy star appliance estimates

Step 5:

Complete upgrades, provide copy of contractor or appliance invoice and a Certificate of Completion signed by you and the contractor and receive loan proceeds with check payable to contractor or vendor.