Features & Benefits
Why choose The Police Credit Union for your Green Energy Loan?
When you incur expenses beyond your current means, turn to The Police Credit Union for a Personal Loan designed to meet your needs at a competitive cost.
Competitive Low Rates
Our competitive personal loan rates can assist in more budget-friendly payments for you.
Protect yourself against financial disruptions that might occur by using The Police Credit Union’s Payment Protection for your loans.
It’s quick and easy to apply online. Please select "Green Energy" when filling out your online application.
Green Energy Loan FAQs
How does the solar federal tax credit work?
You may be eligible for a federal tax credit2 — please check with the IRS for specifics. It's important to consult with a tax professional for specific advice and details on the amount of the credit. Please note: a tax credit, if you are eligible, reduces the amount of taxes you owe, but does not guarantee a tax rebate or refund.
Here is the required IRS form 5695 (this link will take you to the IRS website). You will also need to reach out to your solar installer directly to request a copy of your contract.
I am refinancing my home and the title company is asking about a Uniform Commercial Code (UCC-1) on the title report. What is this?
When you signed the loan agreement and The Police Credit Union financed the solar system for you, you granted The Police Credit Union security interest in the solar system and authorized The Police CU to file a UCC-1 lien securing its interest in the solar system. This is not a lien against the home. The UCC-1 appears as a lien against the solar system on the county real estate property records. The UCC-1 lien protects The Police CU's interest in the solar system and prohibits mortgage lenders from taking ownership of the solar system. Mortgage lenders prefer to be in first position on title of the home and they will typically request a subordination of the
UCC-1 when you refinance your mortgage loan.
Can I have roof/home repairs with Green Energy loan proceeds?
No, Green Energy loans are for new installation of solar panels, any repairs will need to be done and paid for by owner prior to Solar installation, however we do offer Personal loans up to $50k.
I am selling my home and I am still making payments on my Green Energy Loan. What are my options?
You or the purchaser may pay off the loan at the time of sale, or the purchaser may assume the loan, subject to the conditions and approval of The Police Credit Union. The loan will need to be paid off in full if the purchaser is not approved to assume the loan. Please refer to your loan agreement for additional terms and conditions.
How long does it take to receive my funds?
GE loans are funded upon approval and according to the Solar Loan Contract. An approved permit must be provided prior to funding. Please contact us for a standard list of requirements or any additional details.
Do I need to be a member to apply?
Membership is not required to apply, but you must establish membership prior to the loan being funded.
We're Here to Help
Other ways to connect with us
Call us at 800.222.1391 or find a branch location, by clicking the button below.Our Locations
Meet with us virtually
Schedule an appointment or meet a member of our Virtual Branch team from your computer, laptop, or mobile deviceVisit our Virtual Branch
Virtual Branch Hours
Monday - Friday: 10:00 a.m. - 5:00 p.m. PST
Saturday: 9:00 a.m. - 12:00 p.m., 12:30 p.m. - 3:00 p.m. PST
Maximum loan amount $75,000, $125 loan processing fee.
1APR=Annual Percentage Rate. Example rate of 7.24% APR with 120 monthly payments = $117.35 per $10,000 borrowed. Rates quoted assume excellent borrower history. Your actual APR may vary and will be determined when a credit decision is made. A $125 processing fee to be collected with application. All loans secured by a UCC-1 financing statement. Selected contractors must be licensed and approved prior to loan approval. Rates, terms and conditions subject to change. Additional terms and conditions apply.
2 Under federal law, you may receive a tax credit equal to 26% of the cost of your solar for systems installed in 2020-2022, and 22% for systems installed in 2023. Other state-level incentives may apply. Contact your tax professional for specific advice as to whether the credit is allowable on your tax return.
3 Restrictions apply, visit https://go.sunpower.com/partner/beneplace/ for more details.
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