DURHAM, N.C. – Self-Help FCU on Thursday announced a low-interest loan program to finance energy-efficiency projects in Charlotte, Atlanta and six other cities.
The community development credit union will use a $5.5 million loan and grant from Bank of America, combined with other resources, to offer $15 million in energy loans targeted at retrofits of existing commercial, community and multifamily buildings, especially those in economically distressed areas.
The CDCU launched the program at Charlotte’s Great Aunt Stella Center as part of the N.C. Sustainable Energy Association’s Clean Energy Connections education series.
The energy loans will range from small microloans, such as to day care centers in need of low-flow toilets and more efficient lighting, to multimillion dollar deals to renovate charter schools. The emphasis in Charlotte will be on small businesses.
The Bank of America contribution allows the credit union to offer a 1.5% discount off its regular rates.
