ALLENTOWN, Penn. – A new credit union being created here would provide loans for the green energy field, one of the few credit unions being organized.
The sponsor of Green Energy FCU would be AFC First Financial Corp., a provider of residential energy-efficiency and renewable energy lending and rebate programs. The company also manages a network of more than 3,000 “Approved Contractors” – companies involved in selling, installing and servicing high-efficiency heating, air conditioning, weatherization, and whole-house remodeling and alternative energy-related home improvements.
Organizers for the proposal say they hope to submit an application for a charter by year end to NCUA, which has not approved a new credit union since last October. NCUA has granted fewer than a dozen charters over the past four years, the slowest period for chartering in the 100 years of credit unions.
