Energy Impact Low Interest Loans

If you want to lower your utility bills and have a more comfortable home, but can't afford the upfront cost of a furnace or other improvements, Energy Impact Illinois can help.  Energy Impact Illinois is partnering with several local banks and credit unions to provide access to energy efficiency loans, which eliminate the upfront cost and allow you to repay over a longer period. The savings on your energy bill will help offset the loan payments.

Loans can be used for the following types of efficiency upgrades:

• Boiler or furnace with additional items - If done in conjunction with a boiler or furnace upgrade, water heaters, programmable thermostats, central AC and other ENERGY STAR® appliances and equipment are eligible. Must be installed by a participating Heating/Cooling contractor.
• Whole home improvements - Anything recommended by a certified energy auditor that results in a comprehensive savings of 15% or more. Must be installed by a participating energy upgrade contractor.

All of our financial institutions will offer unsecured loans with minimal paperwork and quick approvals. Secured loans for larger amounts may also be available. To get started, contact a participating whole home contractor or participating Heating/Cooling contractor.  Or to learn more about the basic details of these loans and find out which bank is helping customers in your area, call us toll-free at 1-855-9-IMPACT (855-946-7228).

GreenChoice Bank is offering homeowners in the seven county Chicago region loans to cover the cost of installing high efficiency furnaces and completing other home improvements that reduce energy use in the home. Energy efficiency loans from GreenChoice Bank can range from $2,500 to $10,000 with a maximum term of 7 years depending on the customer's ability to repay.  If you have a larger energy efficiency project, GreenChoice can also offer home equity loans.

Call 773-799-9400 for additional information about the Energy Impact Illinois residential loan program or visit their website - greenchoicebank.com.  You can also stop in at one of their three Chicagoland branches.
 

MembersAlliance is offering loans for energy efficiency retrofits to eligible homeowners who live or work in the City of Rockford. These loans have a a maximum term of five years and are available to existing members and new members that meet MembersAlliance income and financial requirements. The minimum loan amount is $500 and the maximum loan amount is subject to the member’s ability to repay.

MembersAlliance Credit Union is located at 2550 S. Alpine Rd. (at Harrison Ave.)  and 6951 Olde Creek Road (at Perryville) in Rockford, Illinois. Contact Pat Smith from MembersAlliance at 815-226-3278 for additional information about the Energy Impact Illinois residential loan program or visit their website: membersalliance.org


North Side Community Federal Credit Union is a participating lender in the Energy Impact Illinois residential loan program.  North Side is offering loans of up to $6,500 for a maximum term of five years to existing members and new members who meet North Side’s member criteria as well as income and credit requirements. Membership in North Side is open to anyone who lives, works, or worships in the Chicago neighborhoods of Uptown, Edgewater, Lakeview, or Rogers Park. Eligibility for membership can also occur through Select Employer Groups.

North Side Community Federal Credit Union is located at 1011 W. Lawrence in Chicago, Illinois. Contact Jennifer Sierecki at North Side at 773-769-5800 x.227 or ei2@northsidecommunityfcu.org for additional information about the Energy Impact Illinois residential loan program or visit their website: www.northsidecommunityfcu.org/ei2loan.html.

Finding a Contractor

Energy Impact Illinois connects you with local residential contractors to help you make an impact. All of the companies listed on our site have third party certifications and have been reviewed by Energy Impact Illinois prior to being listed.   Participating contractors agree to a rigorous quality assurance program including random checks of completed jobs from Energy Impact Illinois to ensure they perform well. In order to qualify for Energy Impact Illinois rebates or financing, a homeowner must work with a participating contractor.