Credit Union Initiatives to Help with Green

The Credit Union offers a Green Second Mortgage loan for home improvements related to energy efficiency. In order to qualify, the home improvement products must have an Energy Star rating or qualify for federal and state tax credits.
Specifications:

• Maximum loan amount of $50,000
• At least 75% of the loan proceeds must be used for energy efficient home improvements
• Maximum term of 120 months (ten years)
• When the loan is subordinate to a mortgage with your Credit Union the current rate for new loans is:
  • 6.25% APR¹ using Payroll Deduction/Funds Transfer repayment
  • 6.75% APR¹ using Direct Pay
• When the loan is subordinate to a mortgage with another lender, the current rate for new loans is:
  • 7.00% APR¹ using Payroll Deduction/Funds Transfer repayment
  • 7.50% APR¹ using Direct Pay
• When the loan is subordinate to a mortgage with your Credit Union the maximum loan to value is 100% of the current appraised value
• When the loan is subordinate to a mortgage with another lender, the maximum loan to value is 90% of the current appraised value
• Home must be primary residence for the borrower
• Property must be in North Carolina or in a county in South Carolina, Georgia and Virginia that adjoins North Carolina
• Life and Disability Insurance available
• No origination or discount points required

At this time, the cost of completing some energy efficient improvements is reduced by the available federal and state tax credits. Some utility companies are also offering rebates for eligible energy efficient improvements. To learn more about eligible tax credits and rebates visit the Database of State Incentives for Renewables & Efficiency and the Energy Star Federal Tax Credits websites. As with any tax credit, consult a tax advisor to determine if this benefit may apply to you.

Green Just Makes Good Sense

As a builder of 15 years, I have learned that we have a certain image to uphold when it comes to our vehicles. When you think builder you automatically think...truck...a really big and loud truck for hauling. I think it might just be more of an image thing than a necessity, but I have certainly been among those that have owned my fair share of the gas guzzling monstrosities we call our prize ride...until last year when I saw the light!!

I must admit the initial idea of going from riding HIGHER above those crazy people on the highway in cars and SUVs to a LOWER level that seemed at the time a matter of granting myself a death wish, was of no interest to me AT ALL. Now despite popular belief, the other little thing we men have sometimes that gets in our way of responsible decision making called EGO, had absolutely nothing to do with my reluctance to switch to a hybrid car...just FYI.

Now, not to belittle the benefits of energy efficiency, natural resource preservation, and sustainability that a hybrid vehicle contributes, because these were all definite pluses when considering my next investment for the company; however, for all of you where monetary returns on your investment are at large the final decision making factor--you would approve.

Check out my new ride and I challenge all the builders out there...buy green!

Simple Way to Make a Difference

Often times people do not necessarily realize that there are several ways that we can contribute to the efforts for sustainability without spending a fortune. There are certainly the obvious things like recycling and carpooling when possible. One that not a lot of people realize is the simple act of washing your clothes in cold water versus warm or hot. Most of the energy consumed during washing clothes actually occurs when the water needs to be heated. By washing your clothes in cold, you not only protect your garments, but you also conserve energy and save a little extra on your next electric bill :)!

We would love to hear your thoughts on simple ways we can do our part to conserve energy and protect the environment!