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0% Financing Energy Efficiency
Home Improvement Program
What are Some of the eligible items that I can finance?
What are the rates and available loan amounts?
Who can borrow money?
When and how can members apply?
How long
does it takes to get loan approved?
Who do I
contact for more information?
How are loan funds
disbursed?
How are loan payments
made?
How do I select a
contractor?
What if multiple contractors are involved in the project?
Are you using too much energy in your home? Would you like to
replace that aging air conditioner or upgrade your insulation
and reduce your utility bills?
If you've answered yes to these questions, then Altamaha
EMC's HomePlus loan program is a clear choice for you.
The HomePlus Energy Efficient Home Improvement Financing Program
is designed to help encourage Members to purchase and install
Energy Efficient Home Improvements. The loan program enables
Altamaha EMC Members to finance up to $5,500 in
Energy Efficient improvements at 0% and an additional $9,500 (if
needed) at 7.5% APR*! The loans are made by Georgia Electric
Membership Corporation Federal Credit Union which has been
serving electric cooperative employees in Georgia for over 40
years.
Some of the eligible items consumers can finance:
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Energy Star rated heating and cooling systems
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Energy Star rated water heaters
-
Energy Star rated windows and doors
-
Insulation and ventilation for for home attics, walls, crawl
spaces and basements
-
Weatherization items - weather stripping, caulking, duct sealing
and insulation
-
Energy Star rated major home appliances (refrigerators,
freezers, stoves, dish washers, clothes washers, etc. excludes
entertainment appliances)
-
Energy Star rated roof systems
Energy Star requires that the complete heating/cooling system
meet requirements. Not all replacement heat pump systems meet
the Energy Star requirements. Please ask your contractor to
adhere to the Energy Star requirements for HVAC systems.
The Energy Star Specifications for Air Conditioning/Heat Pumps
are detailed here:https://www.energystar.gov/.
For a complete list of Energy Star rated systems go to
EnergyStar.gov.
What are the rates and available loan amounts?
-
The interest rate is fixed for the life of the loan. For loan
amounts over $5,501, Members who choose to pay their electric
bill via bank draft will receive a loan rate discount of 0.50%.
-
Closing cost is a flat $65, payable by check at loan closing.
-
Members should speak to their GEMC FCU loan representative for
available term options and refer to the loan disclosure for
complete loan details and terms.
Who can borrow money?
Anyone who is a Member of, and receives their electricity
service from, Altamaha EMC. The home must be in the
state of Georgia. Members of other electric cooperatives may
also borrow money if their co-op offers the program.
When and how can members apply?
First decide on the improvements and the total amount you need
to borrow, then complete the
online application.
How
long does it takes to get loan approved?
Loans are generally approved by the
credit union within 24-48 hours upon receiving the completed
application. You will be notified by phone by a representative
of the credit union. When your loan is approved and closed, you
will become a member of the Georgia EMC Federal Credit Union and
will be able to take advantage of their full line of financial
services.
Have questions or need more information?
If you are interested in obtaining more information about the
HomePlus program, contact Van Henriott at 912-526-2118
or toll-free at 1-800-822-4563,ext.118 or Tammye
Vaughn at 912-526-2120 or toll-free at
1-800-822-4563, ext 120.
How are loan funds
disbursed?
After Altamaha EMC verifies the completion of the improvements,
a closing is scheduled. The Credit Union issues checks made
payable to you and your contractor at the time of closing. If
multiple contractors are involved in the project, checks will be
issued to each participating contractor.
How are loan payments
made?
Your loan payment will appear on your monthly power bill.
How do I select a
contractor?
Altamaha EMC maintains a list of approved contractors who meet
our guidelines for participating in the program. Other
contractors may be added if they meet the program guidelines.
What if multiple contractors are involved in the project?
You will need to obtain all of their bids to determine the total
funds you wish to borrow. For example, you may determine you
need $5,000 for a HVAC system, $4,000 for windows, and $1,000
for insulation. You should then apply for the total amount
needed before moving forward with the project.
You can apply online right now by clicking the link below.
Apply Online by clicking here
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