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VHeat Fuel Buying Program

VHeat is a program offered exclusively to VSECU members for better heating fuel prices. When members join VHeat they are pooling together the thousands of gallons of heating oil, propane and kerosene they all use to secure more favorable pricing with dealers.

How the Program Works

  • Reduce the hassle of calling for deliveries or waiting to be put on a delivery schedule. With VHeat the dealer arrives at your home with fuel on an automatic schedule, it’s simple.
  • No need to worry about late payments with VHeat’s convenient payment system. The amount you owe is automatically debited from your VHeat Clearing account by the dealer a few days after each delivery, no checks or stamps.
  • Delivery cost a little more than you thought? No problem! If there are not sufficient funds in your VHeat Clearing account to cover the bill your VHeat Credit Line is activated to cover the amount due, no more dealer late fees or bounced check fees.

Unique Payment System

The biggest benefit this group receives are the special accounts and payment system between VSECU and the dealers.

VHeat Clearing Account
Your VHeat Clearing account allows you to make deposits at any time so you can save for fuel weekly, monthly, quarterly or whichever way works best for you. After each delivery the dealer automatically debits this account for your payment. The VHeat Clearing account also earns interest like a regular checking account.

There are no checks or debit cards issued with the VHeat Clearing account. The account is strictly for deposits and dealer automatic debits.

Account Type Dividend Rate APY Minimum Opening Deposit Minimum Daily Balance to Earn APY
Checking 0.10% 0.10% $25 None
APY = Annual Percentage Yield. Rates and yields may change after account opening. Fees could reduce earnings.

VHeat Credit Line
If you don’t have sufficient funds your VHeat Credit Line is activated to make the payment. The VHeat Credit Line will cover the expense to pay a bill or pay for heating related services such as cleaning, repairs or upgrades.

The VHeat Credit Line is a loan and subject to underwriting and approval.

Type APR
VHeat Credit Line 8.00%

APR = Annual Percentage Rate. APR is effective as of 3/1/2014 and is a variable rate.

Group Dues

Group dues will be $25 for the 2013-14 season.