NOVEC Partnering with ElecTel to Provide Valuable Member Service
As we transition to the bright sunny days of summer, are you thinking of adding solar to your home? If so, NOVEC can help with ElecTel Cooperative Federal Credit Union’s Energy Efficient Loan Program.
With this program, NOVEC members may borrow up to $35,000 for improvements, including: electric heat pumps, furnaces, air conditioners, generators, solar projects, water heaters, insulation, new windows and doors, and ENERGY STAR® appliances.
ElecTel offers energy-efficiency loans to residential property owners of single-family homes, duplexes, mobile homes, and owner-occupied condominiums. The Energy Efficient Loan Program features:
· Loans with as low as a 3.99% annual percentage rate
· Up to 100% financing of the purchase price, including taxes and installation costs
· Repayment terms up to 120 months
· $35,000 maximum loan limit; $5,000 maximum for a mobile home
Who is ElecTel?
ElecTel is a cooperative, much like NOVEC, where members own and control the business. Since 1969, ElecTel has served electric cooperative employees in Virginia and North Carolina. This year, the credit union — through NOVEC — has expanded its reach by offering credit-union loans as well as other banking services to NOVEC members.
Deposit accounts include:
· Savings
· Christmas clubs
· Money market accounts
· Free checking
· Online banking
· Free bill pay
· Free mobile banking
· Free mobile deposits
· No fee health savings accounts
· Certificates of deposit
· IRAs
Loan accounts include:
· Signature/unsecured loans
· Platinum Visa® program with no annual fee
· New and used auto loans with rates as low as 1.99%
· Home equity loans with no closing costs
· RV/boat loans
· Energy efficiency loans with rates as low as 3.99%
NOVEC members may join ElecTel Federal Credit Union online at www.electelccu.org and then apply for loans or other financial services online.
“We know consumers have a choice with financial services,” says Nancy Long, ElecTel president and CEO. “But NOVEC members will not regret partnering with ElecTel Cooperative Federal Credit Union because we have so much to offer. We’re here to serve you!”
For more information, contact ElecTel at 800-849-5600 or email [email protected].