COLONIE — Sunmark Credit Union has launched a lending program that allows members to finance their solar energy installation with fixed loan payments, the organization announced.
The community-charted credit union has partnered with NYSERDA and Solar United Neighbors to help members develop energy independence and install solar panels by utilizing a portfolio of new loan offerings. Borrowers can make the switch to green energy with a solar loan that includes little or no equity in their home and loan amounts up to $50,000 based on credit score.
Sunmark also offers mortgage energy loans beginning at $50,000 that allow homebuyers or those refinancing a current mortgage to make upgrades to reduce utility costs with solar energy installation. Both loan products offer a variety of terms and competitive, fixed rates.
“At Sunmark, we care about making the communities we serve brighter and better places to live,” said Jerilee Beaudoin, chief lending officer for Sunmark Credit Union. “With the introduction of our solar lending program, we have the ability to help our members save money through reduced utility costs, while helping the environment at the same time.”
The first step for those interested in switching to solar is finding a registered contractor via NYSERDA’s search tool. Credit union members can then begin the application process with Sunmark as well as explore grants and tax credit options from NYSERDA and Solar United Neighbors. More information about Sunmark Credit Union’s solar lending program is available on the Sunmark website.
“By going solar with Sunmark, homebuyers and homeowners alike can truly ‘borrow brighter’ with a financial institution that’s small enough to know you, but large enough to meet all of your financial needs,” Beaudoin said.
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