Green Loan Program - Drive Loan and Member Growth

The Green Loan Program is a financing solution developed by the New Jersey Credit Union League in conjunction with the New Jersey Clean Energy Home Performance Energy Start Program (HPwES). The program assists New Jersey homeowners in making their homes more energy efficient by increasing their home’s comfort, safety and durability, all while lowering their energy costs by up to 30%. 

Eligible homeowners participating in the Green Loan Program enjoy low cost financing provided by NJCUL Member credit unions. In addition, some projects are eligible for rebates up to $4,000. 

Each contractor participating in New Jersey Home Performance with Energy State must meet the certification and accreditation guidelines of the Building Performance Institute (BPI), nation’s premier credentialing, quality assurance and standards setting organization for home performance professionals. Since 1993, BPI has been setting technical standards for home energy auditing and energy efficiency upgrades. 

The State requires each approved contractor to complete extensive training and approval proves before being accepted into the program. Each certified contractor will help guide participating homeowners in deciding what measures are best suited for them.

Eligible projects: 

  • Sealing air leaks and adding insulation
  • Improving heat and cooling systems
  • Sealing ductwork
  • Replacing windows
  • Upgrading lighting, appliances, and water heating equipment 
  • Installing renewable energy systems 

Portfolio Overview

  • Average FICO - 758
  • Average Income - $124K
  • 100% of Borrowers are Home Owners
  • 2314 New Members Created
  • 0.29% Default Rate

Consumer Loan Options

Applicants that are PSE&G or Elizabethtown Gas customers may apply for a Green Loan. 

  • Interest-free Loan
    • Between $2,500 and $10,000
    • Up to 36 Months on Loans < $5,000
    • Up to 84 Months on Loans between $5,000 and $10,000
  • 4.99% Loan
    • Between $10,000.01 and $15,000
    • Up to 120 Months
  • Average Income - $124K
  • 100% of Borrowers are Home Owners
  • 2314 New Members Created
  • 0.29% Default Rate

Interested in Learning More?

Contact Robin Brunner at rbrunner@njcul.org.