For members looking to make their homes environmentally friendly, Addison Avenue Federal Credit Union is now offering loans on solar home products nationwide.
The credit union launched the new loan product in conjunction with Earth Day and in partnership with SunPower, a manufacturer of high-performance solar electric systems for residential, commercial and utility-scale power plant customers.
Addison Avenue will finance up to $50,000 per member for the solar loans and offers a current rate as low as 5.25% APR. The loan has flexible extended terms and no loan fees or prepayment penalties. Members will also receive a rebate of 30 cents per watt on the purchase of a SunPower residential system. Members may also be eligible for a 30% tax credit from the government.
Information about the solar loans is listed on the credit unions Web site addisonavenue.com/solar.