ENGLEWOOD, Colo.–The first credit union chartered to serve the clean energy industry is now open for business.
Clean Energy Credit Union is now offering clean energy loans and accepting deposits. It has since mid-May been beta-testing its online banking services.
As CUToday.info first reported here, NCUA granted CECU a charter in September of 2017.
Clean Energy will serve the 4,300 members of the American Solar Energy Society. The new credit union’s primary mission will be meeting the financing needs of Society members, NCUA said. Using regular share and share certificate accounts, Clean Energy plans to provide consumer financing for the purchase and installation of solar panels and high-efficiency home energy improvements as well as the purchase of electric and hybrid vehicles.
“People are seeking new ways to make a difference, to help our environment and to usher in a clean energy economy,” said Board Chair Blake Jones in a statement. “Clean Energy Credit Union helps make it easy for everyone to participate in the clean energy movement.”
Added CEO Terri Mickelsen, “When you open a savings account with us, you’ll know that your deposits are federally insured and are used solely to help others afford their clean energy projects. We make those projects more affordable by offering some of the best loan terms in the market.”
Plans call for CECU to operate as an online operation only with no physical branches.
In 2019, the credit union said it will expand its offerings to include checking accounts, debit cards, credit cards, and green home mortgages.