Homeowners In County Can Get Loans For Energy Upgrades
In an innovative partnership between Energy Upgrade California in Los Angeles County and San Fernando Valley-based Matadors Community Credit Union, Los Angeles county homeowners can now qualify for loans with as little as 2% interest on home energy upgrades through Energy Upgrade LA’s network of contractors.
“Los Angeles County homeowners now have one more reason to make important energy-efficiency renovations to their homes,” said Howard Choy, General Manager of the County Office of Sustainability. “The Energy Upgrade program already ensures decreased home energy bills and rebates of up to $8,000, and this exciting new partnership with Matadors provides unparalleled financing solutions for County residents. It’s another big step in encouraging LA homeowners to embrace a sustainable lifestyle, starting with their home.”
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“Matador’s Community Credit Union is proud to be the County’s partner in this innovative, exciting new financing program,” said Dale Verderano, President and CEO of Matadors. “Because we are dedicated to helping our members succeed financially, being able to provide low-interest rate Energy loans that allow homeowners to take advantage of the current substantial rebates offered through Energy Upgrade LA, as well as save on their monthly utility expenses, and increase the value of their home at the same time makes this partnership a perfect fit.”
The Los Angeles County Board of Supervisors today accepted an additional $8 million in funding from the California Energy Commission to supplement and expand innovative financing programs in partnership with local financial institutions to encourage greater participation from LA County homeowners in making Energy Upgrade improvements.
In all but the very newest homes, almost half of the heated or air conditioned air can be lost through leaky ducts, uninsulated walls, ceilings and floors. The County of Los Angeles, the California Energy Commission (CEC), the California Public Utilities Commission (CPUC), investor-owned and municipal utilities, local governments, and other stakeholders have partnered to form a statewide energy efficiency program, Energy Upgrade California. The LA County arm of the program provides rebates and incentives of between $2,000 and $8,000 to LA County homeowners who make energy-saving home improvements such as insulation, sealing, HVAC upgrades, energy-efficient windows, tankless water heaters and other “fixed” improvements.
About Energy Upgrade California in Los Angeles County: Energy Upgrade California Los Angeles is administered and overseen by an alliance among L.A. County, Southern California Edison, Southern California Gas Company and the City of Los Angeles Department of Water and Power. Los Angeles County was one of the first counties in California to roll out this program. Locally, county officials are coordinating with Southern California Edison, the Southern California Gas Company and L.A.D.W.P. to provide homeowners with information on home upgrade benefits, financing, incentives and home energy ratings and help with finding participating contractors. For more information, consumers can visit www.energyupgradeCA.org/LACounty.
Matadors Community Credit Union: MCCU is a $130 million full-service financial institution, serving the San Fernando, Santa Clarita and Simi Valleys since 1963. Anyone can join. MCCU was voted Best Bank/Credit Union three years in a row and has two branches, in Northridge and Chatsworth. To learn more about MCCU please visit matadors.org.