Michigan Saves Cherryland Pilot Loan Program

Save Green Signature Loan

Save Green Home Equity Loan

Tax Credits/Government Incentives/Utility Rebates

 

PROGRAMS & RATES EFFECTIVE FEBRUARY 15TH, 2010

Background

Michigan Saves is an innovative program to help all types of Michigan energy consumers—businesses, institutions, and residents—afford energy efficiency and renewable energy upgrades. Michigan Saves will finance the installation of energy measures with no upfront cost to utility customers.

Cherryland Electric Cooperative Pilot—This pilot involves loans through Members Credit Union for residential energy efficiency installations with on-bill repayment on the Cherryland electric bill. The pilot will be available throughout Cherryland’s service area in northwest Michigan and will test the customer response to both the à la carte eligible measures and the audit-based full response options of the residential program design.

 

Are you interested in saving money on your utility bills and improving your home’s comfort? If you are a member of Cherryland Electric Cooperative, you can participate in the first Michigan Saves pilot program to finance the cost of energy efficiency improvements in your home with no upfront cost and convenient monthly payments on your Cherryland electric bill. As part of this pilot, you can have a comprehensive energy audit conducted to assess how to best lower utility bills and make your home more comfortable.

There are equipment rebates and tax credits available and the first 50 customers to take out a loan will receive a rebate for an energy
audit, so sign up now to be pre-approved! You can also participate without an audit if you want to finance specific home improvements that are

included on a list of qualifying measures.

This pilot is provided by Michigan Saves, Cherryland Electric Cooperative, Brown Lumber Installed Sales & Service (BLISS), and Members Credit Union.

 

Check out available rebates from participating utilities!
Cherryland Electric Energy Optimization Rebate Program

DTE/Michcon Energy Optimization Rebate Program

 

Michigan Saves Cherryland Pilot Special Rates

Michigan Saves Loan Rates
Effective Date: 02/15/2010
Name	APR*	Type	Term
Rates Effective 2/15/2010
Michigan Saves $0 - $2,500	6.99**	Fixed	24 month
Michigan Saves $2,501 - $5,000	7.99**	Fixed	36 month
Michigan Saves $5,001 - $10,000	8.99**	Fixed	36 month
Michigan Saves $10,001 - $15,000	9.99**	Fixed	48 month
Michigan Saves $10,001 - $15,000	10.99**	Fixed	60 month
Michigan Saves $10,001 - $15,000	11.99**	Fixed	72 month
* Annual Percentage Rate
**Rates Subject to Change
SPECIAL RATES AND TERMS FOR CHERRYLAND ELECTRIC COOPERATIVE MEMBERS PARTICIPATING IN MICHIGAN SAVES CHERRYLAND PILOT !

How do you Apply? Sign up here!
Sign up at the Michigan Saves Cherryland Pilot Web Site and a Bliss Team member will contact you to begin the process. The Bliss Team will help you determine the scope of your project and assist you with your loan application. Cherryland Members can apply for the Michigan Saves loan on-line, choose "Michigan Saves" as purpose of loan.

    

 

 

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Save Green Signature Loan

What are they?

Members Credit Union has designed a solution to meet your "green" financing needs. We have developed a signature loan program with special rates and terms for homeowners seeking to improve their home energy efficiency. We can help homeowners save monthly expenses and increase their energy efficiency - while benefiting our environment and their wallet. Check out our approved product and service list. When upgrading your home for "Green Living" think of Members Credit Union for your financing needs.

How do they work?

1. Homeowner should contact a supplier or contractor to determine the scope of the work and obtain a purchase order/estimate.
2. Homeowner can apply in-person at a branch or our lending center. Please bring a purchase order/estimate from a supplier or contractor when applying in person.
   
3. Homeowner can apply online using the purchase order/estimate from supplier.
4. Upon approval homeowner will need to sign the loan documentation at the loan closing.
5. Please bring a purchase order/estimate from supplier or contractor to loan closing.
6. Homeowners should check with their utility provider to see if they have any energy optimization rebate programs currently available.

(FUEL SWITCHING IS ALLOWED UNDER THIS PROGRAM)
For details: Contact Marc McKellar at marcm@memberscu.com or 231-932-5233

What products and services are approved for Save Green Signature Loans?

Below is a listing of product and service categories approved for the Members Credit Union "Save Green" Signature Loan program. This loan program does offer the homeowner the ability to convert energy sources. Many utilities are offering incentive programs and rebates to the homeowner for these initiatives, so please check with your utility. We have provided utility links below for your convenience.

Approved Product and Service Categories

Appliances	Heating & Cooling	Water Heaters	Home Envelope	Lighting
Battery Charger	Air-Source Heat  Pump	Gas Condensing	Home Sealing	Light Bulbs  (CFL)
Clothes Dryer	Boiler	Heat Pump	Insulation	Light Fixtures
Clothes Washer	Central A/C	High-Efficiency Gas Storage	Air Sealing	LED Lighting
Dehumidifier	Ceiling Fan	Solar	Roof Products
Dishwasher	Central Dehumidifier	Whole-Home Gas Tankless	Windows
Refrigerator	Furnace		Doors
Freezer	Geothermal Heating  Pump		Skylights
Room A/C	Home Sealing (Insulation)
Room Air Cleaner	Light Commercial Furnace & A/C
Oven/Range	Programmable Thermostat
	Room A/C
	Ventilation Fan

Save Green Signature Loan Rates
Effective Date: 02/01/2010
Name	APR*	Type	Term
Signature Loan $0 - $2,500	7.99%	Fixed	24 month
Signature Loan $2,501 - $5,000	8.99%	Fixed	36 month
Signature Loan $5,001 - $10,000	9.99%	Fixed	36 month
Signature Loan $10,001 - $15,000	10.99%	Fixed	48 month
Signature Loan $10,001 - $15,000	11.99%	Fixed	60 month
Signature Loan $10,001 - $15,000	12.99%	Fixed	72 month
* Annual Percentage Rate

  

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Save Green Home Equity Loans

What are they?

Members Credit Union has designed a solution to meet your "green" financing needs. We have developed a home equity loan program with rates and terms for homeowners seeking to improve their home energy efficiency. We can help homeowners save monthly expenses and increase their energy efficiency - while benefiting our environment and their wallet. Check out our approved product and service list. When upgrading your home for "Green Living" think of Members Credit Union for your financing needs.

How do they work?

1. Homeowner should contact a supplier or contractor to determine the scope of the work and obtain a purchase order/estimate.
2. Homeowner can apply in-person at our mortgage lending center. Please bring a purchase order/estimate from a supplier or contractor when applying in person.
3. Homeowner can pick up a home equity packet at any of our branch locations.
4. Check with our Mortgage Department to verify other documentation you will need to apply. Contact our Mortgage Center at 231-929-2020.
5. Upon approval homeowner will need to sign the loan documentation at the loan closing.
6. Please bring a purchase order/estimate from supplier or contractor to loan closing.
7. Homeowners should check with their utility provider to see if they have any energy optimization rebate programs currently available. 

(FUEL SWITCHING IS ALLOWED UNDER THIS PROGRAM)
For details: Contact Marc McKellar at marcm@memberscu.com or 231-932-5233

What products and services are approved for Save Green Home Equity Loans?

Below is a listing of product and service categories that are approved for the Members Credit Union "Save Green" Home Equity Loan program. This loan program does offer the homeowner the ability to convert energy sources. Many utilities are offering incentive programs and rebates to the homeowner for these initiatives, so please check with your utility. We have provided utility links below for your convenience.

Approved Product and Service Categories

Appliances	Heating & Cooling	Water Heaters	Home Envelope	Lighting
Battery Charger	Air-Source Heat  Pump	Gas Condensing	Home Sealing	Light Bulbs  (CFL)
Clothes Dryer	Boiler	Heat Pump	Insulation	Light Fixtures
Clothes Washer	Central A/C	High-Efficiency Gas Storage	Air Sealing	LED Lighting
Dehumidifier	Ceiling Fan	Solar	Roof Products
Dishwasher	Central Dehumidifier	Whole-Home Gas Tankless	Windows
Refrigerator	Furnace		Doors
Freezer	Geothermal Heating  Pump		Skylights
Room A/C	Home Sealing (Insulation)
Room Air Cleaner	Light Commercial Furnace & A/C
Oven/Range	Programmable Thermostat
	Room A/C
	Ventilation Fan

Save Green Home Equity Loan Rates
Effective Date: 07/01/2009
Name	APR*	Type	Term
Home Equity Loan $5,000 - $10,000	7.00%	Fixed	60 months
Home Equity Loan $10,001 - $25,000	7.00%	Fixed	90 months
Home Equity Loan $25,001 +	7.00%	Fixed	120 months
* Annual Percentage Rate
Home Equity Loans for members seeking to increase the energy efficiency of their home!                                                                                                          Apply Today!

 

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Tax Credits and Government Incentives?

Contact your local units of government for specific tax credit information.
We have provided these links to the U.S. Department of Energy and
Energy Star  to allow you to review the possible tax advantages of
upgrading your home. Speak to your tax professional for specific criteria
and how it will affect your personal taxes.

       

Need to find your Utility Energy Incentive and Rebate Programs?
Choose your utility and you will be directed to their program.

Cherryland Electric Cooperative
Great Lakes Energy
Traverse City Light & Power
DTE
Consumers Energy

Not a Members Credit Union Member?
Contact any Members Credit Union branch location and join today!