Electric Heating System Loan
Working with our power supply partner, East River Electric Power Cooperative, we have a loan program available for those members who want to finance the cost of installing an electric heat pump heating system in a single residential dwelling. A cash rebate, based on type and size of system, is also available.
Loan Terms and Conditions:
- Actual material and installation costs, not to exceed $7,500.
- 5% interest rate on unpaid balance.
- Term not to exceed 60 months.
- No loan funds for:
- refinancing existing obligations.
- Fossil fuel related equipment
- Payments:
- Co-op bills monthly.
- No penalty for early repayment.
- Balance due and payable upon termination of membership or change of property ownership.
- Applications are subject to approval by board of directors.
- Property owner must co-sign loan made to renter.
Application Process:
- Member submits contractor’s estimate (in writing) and completed Credit Application for irrigation system auto restart equipment loan.
- If approved by Board, member provides invoice(s) confirming loan amount.
- Member and Co-op execute Consumer Credit Disclosure Form and Installment Note.
- Co-op issues check to member for loan amount.
Application Form:
Note: Some forms may be in .pdf format and require Adobe Acrobat Reader. Download Acrobat Reader free from Adobe's web site. This is a safe, fast and easy installation.
- Apply for Service
- Close Account or Disconnect Service
- Correct Name or Address
- Electrical Troubles
- Energy Calculator
- Estate Retirement
- Federal Energy-Efficiency Tax Credits
- Here's a link for Energy Saving Ideas
- Incentives to Choose Electric
- Loans
- Payment Plans
