Colorado RENU Loan
Launching in Fall 2017 --
Colorado Residential Energy Upgrade (RENU) Loan
The RENU Loan program is a statewide residential loan program sponsored by the Colorado Energy Office (CEO), in partnership with Elevations Credit Union. It makes home energy upgrades easy and affordable by offering low-cost, long-term financing for energy efficiency and renewable energy improvements.
Colorado RENU Loan Terms:
- Loans from $500 to $35,000
- Finance up to 100% of the project cost
- Competitive interest rates
- No-money down financing for up to 15 years
For more details on terms and conditions, please visit www.elevationscu.com/energyloans.
What can you finance?
Project types include:
- HVAC equipment (furnace, A/C, whole-house fan, water heater, fan, etc.)
- Insulation and air sealing
- ENERGY STAR appliances
- Solar PV and solar thermal
How does it work?
Want to give your business an edge? You can offer this loan to your customers by becoming an authorized contractor in our network. To join the network, fill out a short application and sign a participation agreement. A CEO program manager will review your credentials. Once approved, you can RSVP to attend a one-hour training session in your area. After that, you're ready to begin promoting the RENU Loan.
- Work with a RENU-authorized contractor to identify qualifying energy improvements and a project cost estimate for your home.
- Apply for the loan through Elevations Credit Union online at www.elevationscu.com/energyloans or by calling 800-429-7626. (Customers may seek pre-approval from Elevations prior to engaging with an authorized contractor.)
- Fill out the loan application
- Get pre-approval from Elevations
- Provide requested loan documentation to Elevations (verification of income, etc.)
- Receive final loan approval
- Contractor installs Colorado Energy Office-approved eligible energy measures.
- Sign the loan closing documents, either in person or electronically. Once signed, Elevations will pay the contractor directly.
- Start enjoying your home energy improvements and begin repaying the loan directly to the lender.
Questions? We're here for you.
For any program-related questions, or to request a contractor application and participation agreement, please contact:
Jeffrey King, Business Development Manager