Green Energy Loan
Borrow up to US$75,000 for new home solar panels, with credit union membership required before the loan is paid out.
Beskrivningen av den här finansieringen finns för närvarande på engelska.
The Police Credit Union lends money for new solar installations at your home. You repay the borrowing with interest; terms run from 12 to 240 months, and your annual percentage rate (APR) is determined when the credit union makes its credit decision. A US$125 processing fee is collected with the application.
The solar system secures the loan: a UCC-1 financing statement records the credit union’s security interest in the equipment. This is not a lien against your home. If you sell the home, you or the buyer can repay the loan, or the buyer can take it over with the credit union’s approval. If the buyer is not approved, the loan must be repaid in full.
Eligibility
You can apply before becoming a member, but must establish membership before the loan is paid out.
Membership routes include:
- California law-enforcement personnel and their civilian coworkers, including volunteers, employed by a municipal, county, state or federal agency or special district.
- Firefighters and their departments’ civilian employees serving municipal, county, state or federal agencies or special districts in San Francisco, Marin, Sonoma, Napa, Solano, Contra Costa, Alameda, Santa Clara or San Mateo counties. Both employees and volunteers qualify. The same counties cover EMT volunteers or employees of those bodies or a contracted private ambulance service, and their departments’ civilian employees, as well as Superior and Municipal Court employees.
- Family members of current members, or immediate family of people qualified within the membership field: grandparents, parents, spouses or domestic partners, siblings, children and stepchildren, grandchildren and stepgrandchildren, aunts, uncles, nieces, nephews and first cousins.
- Joining through the American Consumer Council (ACC). Select the ACC route in the online membership application and agree to the membership disclosure. The credit union enrolls you and covers the US$5 membership fee.
The loan is for a new solar-panel installation. Roof or home repairs must be completed and paid for by the owner before the solar installation; these repairs cannot be financed with this loan. Your chosen contractor must be licensed and approved by the credit union before loan approval.
How to apply
- Status
- Öppet löpande
- Villkor för ansökningsomgången
- Membership must be established before funding.
- An approved permit is required before funding.
- A US$125 processing fee is collected with application.
Use the online application from the Green Energy Loan page and select “Green Energy”. The US$125 processing fee is collected when you apply.
Establish credit union membership before funding, using a qualifying membership route. After approval, the money is paid out according to the Solar Loan Contract, and you must provide an approved permit before funding. The credit union provides a standard list of requirements on request.