The National Cooperative Bank (NCB) has teamed with the National Rural Utilities Cooperative Finance Corporation (CFC) to launch a national retail solar financing program that electric distribution cooperatives can offer to their consumer-members.
“This value-added service provides another way for electric cooperatives to engage with their consumers and support renewable initiatives,” saId CFC Senior Vice President of Business and Industry Development Greg Starheim. “Through it, electric cooperatives give their members an opportunity to pay for subscriptions in a cooperative-owned community solar project or purchase behind-the-meter rooftop or backyard ground-mount distributed generation (DG) solar systems with financing provided by NCB.”
Consumers will work directly with NCB, a national financial institution that focuses on cooperatives and their members. NCB will offer both consumer loans for the community solar subscriptions and home equity loans for the purchase of rooftop or backyard solar panels.
“We are thrilled to work with CFC in launching the retail solar loan programs to help members of electric cooperatives reap the benefits of solar energy,” said Chris Goettke, Director of Retail Lending for National Cooperative Bank. “Given our shared cooperative roots, we are especially proud to work with the nation’s electric co-ops in support of our mutual missions of building community.”
About National Cooperative Bank
National Cooperative Bank is dedicated to strengthening communities nationwide through the delivery of banking and financial services, complemented by a special focus on cooperative expansion and economic development. NCB provides financial products and services for the nation’s cooperatives, their members and socially responsible organizations. Headquartered in Washington, DC, NCB has offices in Alaska, California, New York, Ohio and Virginia. To learn more, visit www.ncb.coop, National Cooperative Bank on Facebook and Instagram or @natlcoopbank on Twitter.
Created and owned by America’s electric cooperative network, the National Rural Utilities Cooperative Finance Corporation (CFC)—a nonprofit finance cooperative with approximately $25.6 billion in assets—provides unparalleled industry expertise, flexibility and responsiveness to serve the needs of its member-owners. CFC is an equal opportunity provider. Visit us online at www.nrucfc.coop.