Co-op Energy Efficiency Loan Program
Upgrading a home’s insulation, doors, heat pump, and windows can help make energy bills lower. CEC participates in a program to assist qualifying members with home improvement efforts. It’s called the Residential Energy Efficiency Loan Program.
The loan program is offered through a partnership with PowerSouth and Max Federal Credit Union, which makes low-interest loans available to qualifying CEC members. The process begins with a call to CEC to verify eligibility. The member must own the residence, have service with CEC for a minimum of one year, and be in good standing with the co-op. Members who meet these requirements are provided with detailed instructions on how to apply over the phone with Max FCU. If approved, the member must complete all necessary paperwork and hire a contractor to do the work. Once everything is complete, members will make monthly payments to Max FCU. The minimum amount to borrow for approved CEC members is $2,000 and goes up to a maximum of $10,000, or up to $20,000 with other weatherization improvements including a new high efficiency heat pump.
IMPORTANT: In order to apply for the loan program, CEC members must: Own the residence and be a CEC member for at least one year in good standing. Being eligible to apply does not guarantee approval by Max FCU. This program does not apply to business structures.
If you are a CEC member who meets the minimum qualifications to apply for an energy efficiency loan, you should call a licensed contractor to get a free estimate. This will help you determine the amount to request when applying for a loan. Next, call CEC’s marketing manager Patty S. Seay at 334-427-3508 to confirm your eligibility and receive instructions on how to start the application process with Max FCU.
ATTENTION HVAC CONTRACTORS: It’s very important for members to call CEC first to determine if they are eligible to apply for an energy efficiency loan. Members must meet the requirements listed above to apply for a loan through Max FCU. CEC does not offer in-house financing and this program is not available to businesses.