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VSECU VHeat Program
Our VHeat program offers members the resources to help keep their home or business heating costs as affordable as possible!
Each year, at the beginning of the program, participants determine how many gallons of fuel they will need for the heating season and enroll in the program for that many gallons. The grand total of all participants’ gallons allows VSECU to obtain better pricing. Just as pooling our resources at VSECU makes financial services more affordable, working together as a buying group can save you money when you participate in our fuel buying program.
For the 2008 – 2009 heating season: VHeat members saved, on average, 51¢ per gallon of fuel compared to average Irving Oil retail prices. The average number of gallons purchased last season was 830. This translates into a big savings ... $423.00!
VSECU is working on a good pricing structure for the 2009–2010 heating season. Check our home page often for any program updates.
Program Process
At VSECU we’ve set up a process that makes the fuel buying program affordable and convenient with a VHeat Clearing Account and VHeat Credit Line. Both of these services are required to participate in the fuel buying program.
Payments for your fuel are automatically debited from your VHeat Clearing account at the VSECU after delivery. You do not send payment to the fuel supplier. You may choose to fund the Clearing Account at the beginning of the heating season or make monthly deposits. Not only is this an easy, convenient way to pay, it saves on the cost of checks, envelopes and stamps! Plus, VSECU pays dividends on the funds in your VHeat Clearing Account!
In the event that there are not enough funds in your VHeat Clearing Account to cover your fuel payment, funds will automatically be drawn from your VHeat Credit Line and deposited into your Clearing Account. The Credit Line will help you maintain timely payments for your fuel and continued fuel delivery service. You may pay the loan off in full or make monthly payments. The VHeat Credit Line is a loan, and participation is contingent upon approval.
Program Details
- Limited supply of heating fuel is available, so contact us about joining the VHeat program early!
- Participation is voluntary and on a first-come, first-serve basis
- You must renew your VHeat contract with VSECU every year
- Pricing programs will change from year to year based on supplier offers
- Your home or business must be located in the delivery area of VHeat’s fuel dealers
- Fuel Dealers require automatic fuel delivery
- There is a cost to participate: Dues to join the VHeat program are based on the number of gallons ordered, with a $25.00 minimum
- Dues are non-refundable
- This not a “pre-buy” or “pre-pay” agreement – billing occurs after each delivery
- Payment will automatically be deducted from your VHeat Clearing Account which will be linked to your VHeat Credit Line
Frequently Asked Questions — Click here
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Contact VSECU for more information at 802/800 371-5162
