Project Loans

Our Project Loans are a great way to reduce your impact on the environment. The Energy Improvement Loan is one of our most flexible options and is designed for a wide spectrum of purchases from home solar systems to bicycles. For larger improvements, our 20 Year Energy Improvement Loan might be your perfect answer. With even longer terms, this option will help you finance big projects, while keeping your monthly payments low. Finally, our ITC Loan is a flexible loan option, designed primarily for solar, that provides an immediate financial benefit from your solar installation.





Energy Improvement Loan

The Energy Improvement Loan offers so much more than a standard loan. With longer terms and discounted rates, this loan offers flexibility in financing a variety of energy saving projects and purchases, including solar and energy efficient heating systems, weatherization and home energy efficiency upgrades, and bicycles. This loan comes with options and levels of discounts and terms, making it easier to tailor to your specific needs and goals. Contact a member service consultant with any questions.

Burlington residents: If you are considering buying an electric bicycle, you may be able to save up to $200 by taking advantage of e-bike rebates offered by the Burlington Electric Department (BED). But don’t stop there! We can help you save even more when you finance your bike with our low-interest energy improvement loan. Learn more about e-bike rebates through BED.

RENEWABLE ENERGY

With long terms and low rates, you can begin offsetting your energy usage with solar and or other renewable energy projects.

FLEXIBLE TERMS

With terms up to 15 years, the Energy Improvement Loan is perfect for home projects and/or alternative transportation such as bicycles.

IMMEDIATE BENEFITS

The Energy Improvement Loan is designed to help you begin impacting your monthly utility bills and transportation expenses immediately.

HOME IMPROVEMENT

Perfect for a wide range of projects, from solar to efficient appliances and everything in between, this loan is flexible enough to fit your needs.


RATES

Enter the amount you wish to borrow:

Term: Maximum
loan amount:
APR
as low as:
Estimated
Monthly Payment
60 Months $40,000 5.15%
144 Months $40,000 5.65%
180 Months $40,000 6.15%

APR = Annual Percentage Rate. APR is effective as of 9/1/2018 and reflects the current minimum APR offered. Estimated monthly payments shown are based on a $10,000 loan. Other rates and terms may be available. The APR may be adjusted based on individual credit standing and term. Calculated payments shown are for estimation purposes only. Actual loan payment amount will be disclosed at loan closing and may differ slightly.



20-Year Energy Improvement Loan

Designed to finance larger solar purchases, high-efficiency home heating solutions and comprehensive home energy improvements, the unsecured 20-Year Energy Improvement Loan has discounted fixed rates and an extended term. You’ll benefit from an investment that reduces your home’s operating expenses and provides consistent monthly loan payments.

DISCOUNTED FIXED RATES

Discounted, fixed rates as low as 6.40% APR make this loan an extremely predictable option, perfect for those looking for consistent payments.

LONG TERMS

A 240 month (20 year) loan with a straight amortization gives you manageable, predictable payments to help plan for the future.

HIGHER MAXIMUM

Solar purchases and comprehensive home energy renovations are larger capital investments but yield long-term savings on home operating costs

ONE TIME MODIFICATION

Save on financing costs by taking advantage of a one-time modification to adjust the pay-down, allowing you to adjust payments and interest.

RATES

Enter the amount you wish to borrow:

Term Maximum Loan Amount APR as low as Estimated
Monthly Payment
Apply Now
240 Months $60,000 6.65% Apply Now

APR = Annual Percentage Rage. APR is effective as of 9/1/2018 and reflects the current minimum APR offered. The APR may be adjusted based on individual credit standing and term. Minimum loan amount is $10,000. Actual loan payment amount will be disclosed at loan closing and may differ slightly.




VGreen ITC Loan

The VGreen Investment Tax Credit (ITC) Loan is a great option for individuals looking to finance a solar purchase project. This loan allows you to use tax credits to keep monthly payments in line with your monthly electric bill, letting you reap the benefits of your improvements immediately. This loan is only available for primary residences and projects qualified for the 30% Federal Investment Tax Credit.

You can make your tax credit work for you in more ways than one. After the first 15 months, you may apply your tax credit to the principal of your VGreen ITC Loan, or you may use that to pay down higher interest debt and let your loan payments re-amortize to a higher monthly payment but with the same fixed rate, as low as 5.40% APR.



NO UPFRONT PAYMENT

We are all about helping you save money, so we reduced upfront payments to help you start benefiting from your new project as soon as possible.

15 MO. LOW PAYMENTS

You will enjoy 15 months of low payments, after which your payment will increase unless you take advantage of the modification option for this loan.

TAX CREDIT OPTIONS

Apply tax credits (or any amount) to the loan principal or use it to pay off other debt and allow the loan to re-amortize at a higher payment.

LONG TERMS

A 144 month (12 year) loan with a fixed interest rate as low as 5.40% allows new energy savings to immediately offset the cost of the project.

RATES

VGreen ITC Loan Qualifications Maximum Loan Amount Loan Term APR as low as: Apply Now
Project must qualify for 30% Residential Renewable Energy Credit $60,000 144 months 5.65% Apply Now

APR = Annual Percentage Rate. APR is effective as of 9/1/2018 and reflects the current minimum APR offered. Payment amount subject to change after initial 15-months based on tax credits or other credits applied to principal or re-amortization of the outstanding balance. As an example, a $20,000 loan at 5.65% APR would result in 15 initial monthly payments of $143.58. If the entire 30% tax credit is applied to the principal during the first 15 months, the monthly payment would remain at $143.58 for the remaining term of the loan. If the principal is not paid down with a tax credit or other payment, the outstanding loan balance at the end of the 15-month period will re-amortize to $199.33 per month for the remaining 129 months. Other rates and terms may be available. The APR may be adjusted based on individual credit standing and term. Example payments are for estimation purposes only. Actual loan payment amount will be disclosed at loan closing and may differ slightly.






Apply: You can apply for most of our loan products online. Our online loan application offers quick results, sometimes letting qualified applicants know of approval instantly. Contact a Member Service Consultant with any questions.

Quick Tip: If you are already a member and want to apply for a product online, it’s easier to apply once you’ve logged into our Online Banking system. That way we can save you time by pre-filling the application with the general information we already have on file for you.



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Financial Calculators

  Thinking about financing a clean energy project with VSECU? Watch this video for step by step guidance.