Green homes initiative

MiSaves_logo A pilot program in Traverse City enables banks to loan money for energy efficiency projects in homes.

A state program meant to encourage homeowners to borrow money to make their homes more energy efficient will be tested around Traverse City beginning this week. Cherryland Electric Cooperative members will be the first in Michigan to participate in Michigan Saves.  IPR (audio)

Might go state-wide later.


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One Response to Green homes initiative

  1. Propa says:

    I live in Traverse City in a 100 year old "charmer", as a real estate agent might spin "old and ineffcient".So, I was very interested to see this and found out that this is a cooperative effort between Cherryland Electric, Brown Lumber and Members Credit Union. Members loans, Brown installs and Cherryland uses your new energy "savings" to pay back the loan. Sounds good…Now check out the fabulous loan rates through Members Credit Union;Michigan Saves $0 – $2,500 6.99** Fixed 24 month Michigan Saves $2,501 – $5,000 7.99** Fixed 36 month Michigan Saves $5,001 – $10,000 8.99** Fixed 36 month Michigan Saves $10,001 – $15,000 9.99** Fixed 48 month Michigan Saves $10,001 – $15,000 10.99** Fixed 60 month Michigan Saves $10,001 – $15,000 11.99** Fixed 72 month * Annual Percentage Rate **Rates Subject to ChangeWhat\’s fascinating is that MSHDA and the Feds are also offering similar programs with loan rates up to 15%.This would be fine if I had no intention of paying the loan back at it\’s maturity which I suspect will happen…a lot.

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