HADLEY, Mass.–UMassFive College FCU has partnered with the Massachusetts Department of Energy Resources (DOER) and the Massachusetts Clean Energy Center to become one of the first lenders to support the Mass Solar Loan program.
The program provides low interest loans to qualified homeowners for the purchase and installation of solar electric systems.
The program, financed through $30 million of Alternative Compliance Payments from DOER, connects homeowners interested in solar electricity to solar installers and lenders that have available financing options. UMassFive reported it is the only credit union in Western Massachusetts to participate in this program, offering financing up to $40,000 and no closing costs.
The $400-million UMassFive has more than 35,000 members.