First-Ever Clean Energy Credit Union Raises Critical Start-up Funding
Leading national non-profit E4TheFuture provides financial backing to credit union as it gets ready to open for business
Press Release – The nation’s first-ever Clean Energy Credit Union (CECU) today announced that it has received critical startup funding from E4TheFuture, a nonprofit dedicated to bringing clean energy to all Americans. E4TheFuture has granted a $50,000 seed funding and an initial savings account for $100,000 to help capitalize and accelerate the implementation of the new and exciting CECU.
As part of its purpose, CECU aims to enable consumers to make energy efficiency and clean energy upgrades to their homes when they otherwise may not have been able to. See a two-minute video.
E4TheFuture President Steve Cowell said this award is an investment in the future of energy efficiency as well as other distributed energy resources such as wind and solar power. “We are supporting this organization because we believe it will help remove barriers to widespread adoption to clean energy and energy efficiency,” said Cowell.
“This decision fits our mission to bring the energy efficiency industry to greater success,” according to Cowell. “We are collaborating to bring benefits to a broad spectrum of Americans who want clean energy and energy efficiency but may not have the available cash to invest in improvements.”
“Support from E4TheFuture will allow the CECU to leverage more funding and will strengthen our ability to help people participate in the clean energy movement,” said board chair Blake Jones. “People are seeking new ways to make a difference to help our environment and usher in a clean energy economy. Our new credit union provides an easy way for people to be a part of the solution.”
“As a new organization committed to the common cause of building a robust clean energy industry, the CECU is proud to be a recipient of E4TheFuture funds,” said CEO Terri Mickelsen. “These dollars will go a long way toward helping all of us unite the clean energy participants to help consumers finance clean energy resources.”
The CECU received its federal charter from the National Credit Union Administration in September 2017, and plans to open its (virtual) doors by the end of 2017. A crowdfunding campaign (see video) is under way through November 12, 2017. Initial membership recruitment is targeting members of the American Solar Energy Society (ASES); impact investing and Socially Responsible Investing communities; consumers interested in purchasing a solar PV system, electric vehicle, or home energy efficiency retrofit; and credit unions with underutilized funds available to deposit in CECU and/or who are interested in participating in its loan portfolio.
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