BRIGHTON, Mich.—Lake Trust Credit Union has launched a new green lending solution aimed at helping members make sustainable home improvements.
“Lake Trust is deeply committed to empowering our members with innovative lending solutions that put them on a path toward financial wellbeing,” Chief Lending Officer David Morgan said in a statement. “Energy-efficient homes play a significant role in improving homeownership affordability, especially as utility costs continue to surge. These investments can reduce costly monthly expenses and improve the value of a home, enabling homeowners to manage their finances effectively and, thus, making long-term homeownership more accessible.”
What’s Offered
According to Lake Trust, its Green Lending Home Equity Loan offers special financing through a rate discount on closed-end home equity loans for eligible energy-efficient and sustainable home renovation projects.
Qualifying projects include, but are not limited to:
- Qualified Energy Audit
- Solar panels and battery storage
- Energy-efficient windows and doors
- HVAC replacement or heat pumps
- Insulation upgrades
- Energy-efficient roofing or cool roofing
- EV charging stations
- Water heaters (tankless or energy-efficient models)
- Smart thermostats (when included as part of a qualifying project)
In addition, Lake Trust said the total project cost must be at least 50% of the loan amount and must cover materials and installation. All project work is required to be completed by a qualified Michigan-licensed and insured contractor.
