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News Room: Annual Awards

Pioneer Award Winner - Elevations Credit Union for the Energy Loan

Thursday, January 31, 2013   (0 Comments)
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In fall of 2011 Boulder County released an RFP looking for a financial partner to help create a new energy efficiency and renewable energy financing product after FannieMae and FreddieMac put the kibosh on the highly successful Climate Smart Loan Program and we had a big hole to fill.Elevations was awarded the contract and thus selected to help create aunique and forward-thinking financing program thatnot only stimulates the marketplace and creates jobs. Elevations was willing to step out of the box and be creative to develop an affordable financing program that will serve as a model for the rest of the state and country.

Through a public/private partnership, Boulder County and the City and County of Denver collectively devoted nearly $8,000,000 of grant funds in Loan Loss Reserve in order to leverage $35,000,000 in Elevations lending capital. Together, the Counties and Elevations co-created a program that not only offers low interest financing, but also incorporates their successful energy advisor model, to ensure borrowers are supported by an energy expert throughout their energy upgrade process. Energy Loans can be used for a wide range of energy efficiency and renewable energy upgrades including insulation, air sealing, heating, cooling, water heating, windows, roofing, and solar PV.

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