Energy loan
Borrow for solar panels, heat pumps, geothermal heating or home energy improvements if you qualify for OTIS membership through its Maine counties or immediate-family route.
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Use the loan for solar panels, heat pumps, geothermal heating, windows, doors or siding with weather wrap. The same product also covers fuel purchases, oil furnaces and wood or pellet stoves and furnaces; it is broader than renewable-energy improvements.
OTIS lends you money for these expenses, which you repay with interest. The promotional annual percentage rate (APR) is 5.00% for all borrowers from 14 September to 27 November 2026, subject to credit approval and membership eligibility. The loan term may vary and the offer can change without notice. Outside the promotion, loan terms and interest rates vary with your credit score.
The fee schedule charges $5 for an online loan payment from another institution. Loan payment reversals cost $10 after four reversals in one year; a loan payoff request is free.
Eligibility
You must qualify for membership and receive credit approval.
- You can join if you live, work, worship or attend school in Androscoggin, Cumberland, Franklin, Kennebec, Lincoln, Oxford, Sagadahoc, Somerset or York County in Maine.
- Immediate family members are also eligible, regardless of where they live.
- To open your account, provide an initial $25 deposit, a valid unexpired photo ID and proof of your current physical address. If your ID shows an old address or a P.O. Box, bring a document showing your current physical address, such as a current utility bill or pay stub.
How to apply
- Statut
- Candidatures au fil de l’eau
- Conditions de cette période de candidature
- Membership eligibility and credit approval required. The loan is available year-round; promotional pricing has a separate end date.
Apply through the Apply Now route on OTIS’s energy loan page. The loan is offered year-round; the November date ends the promotional rate rather than loan applications. You can contact OTIS at (207) 897-0900, (800) 848-3688 or info@otisfcu.coop.
If you need to join first, use OTIS’s membership page and prepare the account-opening deposit and identification.