125 North Fulton St. Ithaca, NY 14850
Phone: (607) 273-4611
Toll Free: (877) 273-AFCU      Contact

Solar panel home equity loans

Alternatives FCU offers two affordably priced solar loan products.
  • 15 year adjustable rate 
  • 10 year fixed rate 
Interest only payments are required for the first 18 months. Ample time is allowed for rebates and tax incentives to be applied to the loan balance. After 18 months, principal and interest payments are calculated based on the outstanding balance and remaining term.

Up to 90% of the current appraised value of your home can be borrowed, minus existing liens. No application or closing costs are charged, providing the loan remains open for at least 36 months. 

Requirements for both loans
  • Funds must be used for purchase and installation of solar panels to your primary residence. 
  • A contract for improvements is required.
Rates
Please visit our rates page. The 15 year solar loan correlates with the 80% or 90% Home Equity Line of Credit, and the 10 year solar loan rate is the EnergyWise Home Equity loan.

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Belle Sherman Elementary School Students

On a Tuesday afternoon, students in the Cornell Cooperative Extension's directed SIFE (Students with Interrupted Formal Education) program at Belle Sherman Elementary can be found hard at work learning about money and getting hands-on banking experience depositing money into their Student Credit Union accounts at Alternatives. The students, all refugees from Burma, range in age from 2nd to 5th grade. more»


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