We all know it’s important to be energy efficient, but the upfront costs often present a barrier to homeowners, despite the long-term energy savings and other benefits. Michigan Saves is an independent non-profit corporation dedicated to making energy improvements easy and affordable. Consumers is one of only nine credit unions that partner with Michigan Saves to provide an innovative financing system for energy efficiency and renewable energy upgrades. The program provides personal loans between $1,000 and $20,000 at a fixed annual percentage rate of 7% and terms to fit your budget.
These loans have cut energy bills in homes built from 1801 to 2012 – with the average home built in 1951. The newest home on record used a Michigan Saves loan to install a ground source (geothermal) heat pump, taking advantage of the moderate temperatures in the ground to boost efficiency and reduce the operational costs of heating and cooling systems. The average size home utilizing this program is over 2,100 square feet.
These loans have led to the following energy-saving investments:
- More than 500 high-efficiency furnaces
- More than 1,160 new windows
- More than 550 attics and 270 walls insulated
- More than 1,000 homes received “air sealing” to eliminate wasteful leaks
- More than 31 ground source heat pumps and 6 solar photovoltaic installations
Visit www.MichiganSaves.org or call Consumers Credit Union at 800.991.2221 for more information or to find an authorized contractor today.