We are very pleased to announce GreenLend, our Energy Efficiency / Renewable Energy Loan Program. GreenLend is designed to help you help the planet — and save you money in the process.

Escalating energy costs are a top concern for our local residents and their businesses. Reducing our combined dependency on non-renewable sources of energy, being more eco-friendly and reducing one’s own carbon footprint makes practical sense on many levels. With traditional energy prices increasing more steeply then every before, alternative energy, and renewable energy sources (as well as traditional energy efficiency upgrades) that once were viewed as prohibitively expensive can be considered viable and practical options.

Examples of renewable energy sources include:

Wind • Solar • Geothermal • Biomass • Hydrogen • Hydro

Examples of areas where energy efficiency can make improvements include:

Heating/AC/Ventilation • Lighting • Hot Water Heating (HWH) • Refrigeration Systems
Motors/Pumps • Insulation/Windows • Energy Star® Appliances & Products • High MPG/Hybrid Vehicles

(Simply installing modern insulation, draft reduction and window upgrade can make a world of difference!)

How a GreenLend Loan Works

GreenLend’s residential program works just like a traditional Home Equity Loan, but there are some specific advantages. Loan terms run from 12 to 180 months; the minimum loan amount is $3,000, the maximum is $75,000. The loan projects must contain either energy efficiency or renewable energy enhancements that lower the costs of energy use and are to be secured by owner occupied primary or vacation homes on owned real estate. Rates are competitive, and processing fees are low. In addition, we are joining with Efficiency Vermont, USDA Rural Development, local utilities, consultants, suppliers and more to help you streamline the process of increasing your energy efficiency and decreasing your dependence on rising energy expense. Finally, you get to work with an experienced Union Bank lender — a member of our team dedicated to helping you make the connections, and create the financing to get it right.

GreenLend’s Business lending terms are based around the time it takes for the energy efficiency to achieve payback. The minimum GreenLend Business loan is $3,000. Eligible loans include renewable energy and/or energy efficiency projects for business uses. Typically, loans follow commercial loan guidelines. Our customary underwriting practices are applied to GreenLend Business loans, but the advantage of a GreenLend Business loan is in the increased cash flow that can be achieved via the savings present as a result of energy efficiency implementation within the business. There are many examples of savings offsetting the cost of the loan, which is what we (and our EE/RE partners Efficiency Vermont) strive toward. In this manner, after the loan is repaid, the business customer continues to reap the additional savings that increasing efficiency and reducing energy expense can bring, as well as knowing that they are participating in a global movement to use less, use more wisely and be part of a larger solution.

Ask about GreenLend at any Union Bank office, and make time to discuss your individual goals with us. We think you’ll be surprised at how quickly your GreenLend loan will pay for itself, reaping the savings of reduced energy costs while making a statement about your contribution to the Earth.

Download our GreenLend Brochure in PDF format