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CommonWealth One FCU Recognized for Energy Saver Loan Program

Feb 20, 2013 by Lewis Wood

CommonWealth One Federal Credit Union Foundation has won a 1st Place Award in the state Dora Maxwell Social Responsibility Recognition Award Program for Credit Unions. CommonWealth One partnered with the City of Alexandria and the non-profit Local Energy Alliance Program (LEAP), helping residents of Alexandria and northern Virginia make cost-effective, energy efficient improvements to their homes.

CommonWealth One Federal Credit Union Foundation has won a 1st Place Award in the state Dora Maxwell Social Responsibility Recognition Award Program for Credit Unions. The Social Responsibility Recognition Award Program, sponsored by the Virginia Credit Union League and the Credit Union National Association, honors credit unions for their involvement in community projects and activities.

CommonWealth One partnered with the City of Alexandria and the non-profit Local Energy Alliance Program (LEAP), helping residents of Alexandria and northern Virginia make cost-effective, energy efficient improvements to their homes.

CommonWealth One’s Energy Saver Loan program offers two loan options as part of the partnership. The Alexandria Energy Saver Loan is for energy home improvement projects for residents in the City of Alexandria.  The Home Performance Loan is for energy projects for residents living in Northern Virginia and Washington, D.C.  Both loans must meet local Energy Alliance Program (LEAP) requirements.

City of Alexandria residents can borrow up to $20,000 for a maximum of 10 years with rates as low as 4.90% APR.  Homeowners outside of the City of Alexandria in Northern Virginia and Washington, D.C. are eligible to apply for the Home Performance Loan when completing a qualifying Energy Efficiency project as determined by the LEAP program. The loan maximum is up to $20,000 for 10 years with rates as low as 7.90% APR.

"Energy efficiency is a smart play," says CommonWealth One President/CEO Charlotte Cash. "There is a cost savings to be realized and these improvements can add value to your home. We were proud to partner with the City of Alexandria and other localities on this important initiative, especially in helping lower-income residents, who might not otherwise have access to financing that allowed them to improve their homes' energy efficiency."

Homeowners can start their projects by visiting www.ilikeleap.com to complete a free online energy assessment. The City of Alexandria also offers information on resources to help homeowners make energy efficient improvements to their homes. Visit the City of Alexandria’s Green Building Resource Center at http://alexandriava.gov/gbrc. To learn more about applying for a loan with the Energy Saver Loan Program, visit https://www.cofcu.org/loans_and_credit/energy_saver_loan_program/

About CommonWealth One Federal Credit Union
Since 1944, CommonWealth One Federal Credit Union has grown to become one of Northern Virginia's top credit unions with more than $300 million in assets serving more than 36,000 members. CommonWealth One is a full-service, member-owned, not-for-profit financial cooperative committed to being the lifetime financial institution of its members. For information on our history, upcoming events, and more, visit www.cofcu.org

The competition is named after Dora Maxwell, a credit union pioneer, who worked with several organizations to improve the living standards of the poor and needy.

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