At Everence® Federal Credit Union, we are committed to caring for creation by being good stewards of the earth, just as God has called us to do.
We’re also committed to helping you do the same by providing you with interest rate discounts on loans when you buy “green.”
Everence tries to provide ways that we can support others and their desire to do their part to take care of the earth. We’re all stewards of God’s gifts, and one of those gifts is the world that we inhabit.
Everence Federal Credit Union offers members a 0.50% interest rate discount when they finance an electric or hybrid vehicle through Everence and make energy-saving/efficient improvements using our home equity loan or business loans.
Electric/hybrid vehicles
Electric and hybrid vehicles are becoming more popular by the day.
So much so, longstanding vehicle companies such as BMW, Audi, Ford and Volkswagen have worked tirelessly to develop high-performing and environmentally friendly vehicles that can keep up with vehicles that run on fossil fuel.
While hybrid and electric vehicles may be more expensive than conventional vehicles, these initial costs can be offset by fuel cost savings, state and utility incentives, and a tax credit up to $7,500.
Additionally, finance the purchase of an electric or hybrid vehicle at Everence and receive a 0.50% interest rate discount on your auto loan.
Still not sold? You can use the U.S. Department of Energy’s vehicle cost calculator to find out how much an electric or hybrid vehicle will cost you over the car’s lifespan, and compare numerous makes and models.
Energy-efficient improvements
Take advantage of our green home equity discount when you make a qualified home improvement.
Install solar panel systems, geothermal heating systems, solar outdoor lighting, insulation, water-saving processes, and more to receive a 0.50% reduction on your home equity loan when 75% of it is used for qualified improvements.
Not sure if your home improvement project qualifies? Speak with your loan officer to learn more.
Our interest rate reduction is also available to businesses when they make qualified energy-efficient improvements.
The credit union has done several green business loans for solar panel projects, hydroponic greenhouses and more.
In addition to reducing your carbon footprint, making the switch to energy-efficient appliances and power can save you significantly in the long haul. Solar panels, for instance, can reduce or eliminate monthly electric bills.
“People are investing in solar energy for its short-and long-term financial benefits,” said Andy Schell, Marketing Manager at Paradise Energy Solutions, a solar installation company in Paradise, Pennsylvania. “Solar ownership provides a tool to control and reduce a fixed cost in your electric bill.”
Energy-efficient home improvements can also improve your home or commercial building’s value.
Homeowners and commercial business owners who make energy-efficient improvements may be eligible for a tax credit or tax deduction, respectively. Read more about the home energy tax credit details here and the commercial building tax deductions here.