Renewable Energy and Energy Efficiency Loans
In partnership with Suffolk Energy Action, we are able to offer 0% interest loans of up to £5,000 over 3 years, for a range of domestic energy efficiency and renewable energy systems. This includes solar water heating, air and ground source heat pumps, and other technologies, see below for the full list. This product is only available to residents of Suffolk. You do need to become a member of ESLSCU to apply for this 0% loan.
- No setup fees or additional charges
- Loans repaid over 3 years
- Residents of Suffolk only
- A wide range of renewable energy installations covered
- Including LED lighting, insulation and double or triple-glazing
How much will it cost for a Green Loan?
Representative Example:
Borrowing £5,000.00 over 36 months will cost £138.89 a month. The total amount repayable is £5,000.00 which includes interest at 0.00% APR.
No interest will be charged on these loans.
How do I apply for a Suffolk Green Loan?
1. If you are not a member of ESLCU then you will need to complete an Online joining form, and pay your membership fee by PayPal or debit card by calling the office on 03336 000690, before applying for a loan.
2. Once you are a member, you can apply via the Members Area. We aim to have a decision for you within 4 working days. You can apply for a loan the same day you join our Credit Union.
You can join us online and apply for the loan the same day, all on our website. Please use the link below to join our Credit Union.
You will also need to provide proof of your income. We will ask you to give us read-only access to your bank statements through our trusted partner Consents. Online, this allows our loan officer to see the past ninety days of your bank statement over a secure connection. Alternatively, you can provide printouts of your bank statements, but this will take a few days longer to process while we wait to receive them.
Note: Failure to make scheduled loan repayments will lead to arrears action and may affect your credit history.
Domestic wind turbine
Biomass boiler
LED Lighting
Loft & Floor insulation
Cavity wall fill, internal & external solid wall insulation
Draught proofing
Double & Triple Glazing
Air source heat pumps
Ground source heat pumps
Water conservation measures – rainwater harvesting
Electric vehicles and charging points.
Projects may be subject to approval by the Suffolk Energy Action team
To apply for this loan or any of our loan products you need to be a member of Eastern Savings & Loan Credit Union.
Once you are a member, you can apply for a loan the same day you join our Credit Union via our Members Area.
You will need to provide proof of your income, and your final quote from your preferred supplier to accompany your Green loan application.
We will email you to ask you to give us read-only access to your bank statements through our trusted partner Consents.Online, this allows our loan officer to see the past ninety days of your bank statement over a secure connection. Alternatively, you can provide printouts of your bank statements, but this will take a few days longer to process while we wait to receive them.
1. Bank statements for the last three months
2. Information on all existing loans, credit cards and other debts.
Note: Failure to make scheduled loan repayments will lead to arrears action and may affect your credit history.
We do have a recurring membership fee of £0.25 per week for all our membership accounts, you will need to make sure you have enough in your account to cover this fee for the duration of your loan.
Examples of loans and their repayments
£1,000 – £5,000 Loans for Renewable Energy Projects
| Borrow | Choose your repayment period | Amount to pay per month | APR | Interest charged |
| £1,000 | 1 year | £83.34 | 0% | £0.00 |
| 2 years | £41.67 | 0% | £0.00 | |
| 3 years | £27.78 | 0% | £0.00 | |
| £2,000 | 2 years | £83.35 | 0% | £0.00 |
| 3 years | £55.57 | 0% | £0.00 | |
| £3,000 | 3 years | £83.35 | 0% | £0.00 |
| £4,000 | 3 years | £111.13 | 0% | £0.00 |
| £5,000 | 3 years | £138.89 | 0% | £0.00 |
£300 – £1,000 Loans for better home energy efficiency
| Borrow | Choose your repayment period | Amount to pay per week | APR | Interest charged |
| £300 | 26 weeks | £11.54 | 0% | £0.00 |
| 52 weeks | £5.77 | 0% | £0.00 | |
| £500 | 26 weeks | £19.24 | 0% | £0.00 |
| 52 weeks | £9.62 | 0% | £0.00 | |
| 104 weeks | £4.81 | 0% | £0.00 | |
| £1,000 | 52 weeks | £19.24 | 0% | £0.00 |
| 104 weeks | £9.62 | 0% | £0.00 |
