Home Improvement Loans

With First Electric Cooperative's Home Improvement Loan Program, you don't have to put off upgrading the energy efficiency of your home any longer. The program will allow you to finance the following energy-saving items at a competitive, fixed-interest rate:

  • Heat pumps and related improvements associated with heat pump installation
    • Duct systems
    • Duct sealing
    • Thermal improvements insulation, caulking and ventilation
    • Windows and doors
    • Electric service upgrades
  • First Electric products purchases less than $500 may be applied to your electric bill and paid in three monthly installments
    • Marathon electric water heaters (available at First Electric offices and online store)
    • Generlink generator transfer device (available at First Electric offices)
  • Portable home generators

 First Electric's home improvement loans have many attractive features:

  • Borrow as little as $500 or as much as $15,000
  • Terms from 12 to 60 months
  • Fixed-interest rate for the life of the loan
  • No pre-payment penalty
  • Payments included on monthly electric bill

 Other loan terms and features:

  • Borrower must own and occupy the property and demonstrate adequate credit history
  • Eligible property includes only single-family dwellings that are primary residences and are served electric power by First Electric
  • Loans between $500 and $2,500 secured with an equipment lien
  • Loans more than $2,500 secured with a property mortgage and equipment lien
  • $20 filing fee for loans under $2,500 and $60 filing fee for loans more than $2,500

 To learn more or apply for a loan, please read and complete the following attached documents:

  1. Complete description of Home Improvement Loan Program
  2. Member Flow Chart/Check List for Application Process
  3. Home Improvement Loan Program Credit Application (6.36 MB) 
  4. Credit Report Release
  5. Heat Pump Dealers

For more information on First Electric Cooperative's Home Improvement Loan Program, contact any local First Electric Cooperative office and ask for a marketing representative or click here to contact us by e-mail.