Jax Metro Credit Union President Sheree Eddie was unaware last year of the benefits of a professional energy audit or what home performance improvements could mean to a homeowner's bottom line.
"Now that I've had an energy audit performed and upgraded my own home, I have seen firsthand how important an energy audit is in deciding which upgrades have the greatest impact on my utility bill, and I wanted to make sure others can enjoy the same benefits," Eddie said. "Jax Metro is now a national leader in providing specialized financing for customers wanting to do efficiency upgrades – and do them the right way."
Jax Metro's home performance loan program specializes in energy efficiency upgrades. The program is designed to take a performance-based, whole-house approach to help ensure the upgrade performs as expected. Jax Metro educates the customer and provides a 1 percent discount on the interest rate if the homeowner chooses to have an energy audit performed. That means these unsecured lines of credit can start at 6 percent, and be available for up to one year giving homeowners time to have an energy audit and research the upgrades and contractors.
"Our challenge and goal was to make the loan payment equal to or less than the estimated energy savings," Eddie said. "We want the customer's net cash outlay to be zero, and if possible actually save money."
The loan is not for any and all upgrades. Specific upgrades or upgrade packages must achieve a minimum energy savings of 15 percent. Jax Metro works closely with approved contractors to ensure they are following the home performance installation guidelines, and Jax Metro follows up on the upgrades to make sure things were done right.
Eddie says the program was built for the customer because she couldn't believe what she didn't know. Had she not gone through it herself and seen the difference an audit and customer education can make, she probably would still be doing things the same way. It's about the customer and getting it done right. The only way to do that is with a performance-based approach.
For information about Jax Metro's home performance loans, visit online at www.jaxmetro.org/home-performance-loans/ or call Jax Metro at (904) 360-5100.
For information about NEFBA's E-Council, check out the Web site: www.ecounciljax.org, e-mail [email protected], or call NEFBA offices at 725-4355.