FORT WAYNE – Two credit unions have joined with the Indiana Energy Independence Fund (IEIF) to create the Smart-E residential clean energy lending product.
The offering is being launched initially in Fort Wayne and Northeast Indiana with plans for statewide expansion.
MidWest America Federal Credit Union and Urban Beginnings Choice FCU will be the first financial institutions in the Hoosier State to offer Smart-E loans, which proponents said provides credit unions with a streamlined, ready-to-use clean energy financing product that allows them to offer low-interest loans to homeowners for projects such as solar panel installations, heat pumps, weatherization, and other energy-saving improvements.
‘Helping More People’
“At MidWest America, we believe in helping more people, and this product does exactly that,” Shad Edwards, chief lending officer of MidWest America FCU said in a statement. “By making financing for home energy improvements more affordable and accessible, we’re helping families lower utility costs, increase comfort, and invest in their homes. It’s a win for our members, our community, and our shared future.”
Added Diane Starks, CEO of UBCFCU in a statement, “At Urban Beginnings, we believe that access to fair and innovative financial tools is the foundation of community stability and growth. This lending product will give more families in Fort Wayne the chance to make smart, money-saving energy improvements—building wealth, cutting costs, and improving quality of life for years to come.”
NonProfit Green Bank
The Indiana Energy Independence Fund, the state’s nonprofit green bank, led the effort to establish Smart-E in Indiana by recruiting and vetting lenders and contractors, facilitating credit enhancements to lower interest rates, expanding program eligibility, and supporting program implementation, according to WBIW.
“This launch brings us one step closer to ensuring that every Hoosier, including low- and moderate-income residents—whether they live in a big city or a small town—can benefit from reliable, affordable energy,” Alex Crowley, executive director of the Indiana Energy Independence Fund, said in a statement. “By teaming up with community-focused lenders in Northeast Indiana, we’re making it easier for Hoosiers to invest in projects that reduce costs, improve comfort, and strengthen Indiana’s energy future.”
