UVA COMMUNITY CREDIT UNION LAUNCHES POWERSAVER LOAN PROGRAM WITH RADIO DISNEY TEAM GREEN EVENT ON DOWNTOWN MALL (Official Press Release from UVA Community Credit Union)
Charlottesville, Virginia, August 26, 2011: To celebrate the introduction of its PowerSaver loan program and to mobilize public support for energy conservation, the UVA Community Credit Union is hosting an evening for families with the Radio Disney Team Green Game Show: PowerSaver Edition on Friday, September 2 from 5 – 7pm at the Main Street Arena on the Downtown Mall. “We felt privileged to be one of just 18 institutions nationwide chosen to offer PowerSaver loans in their communities,” says Alison DeTuncq, credit union president and CEO. “Our celebration is part of a comprehensive effort, involving the Local Energy Alliance Program (LEAP) and area schools, to promote awareness of steps that people can take to conserve energy and water. We urge families, especially those with children, to join us.” LEAP Executive Director Cynthia Adams seconds this invitation. “It will give us an opportunity to showcase the financial rewards for homeowners of going green.”
The celebration will begin with a press conference at 4 pm to introduce the PowerSaver loan program, which offers low‐cost financing for energy‐efficient home improvements. It will feature remarks from Richmond Director of the Department of Housing and Urban Development Carrie Schmidt, LEAP Executive Director Cynthia Adams, and President and CEO of the Charlottesville Regional Chamber of Commerce Timothy Hulbert.
The conference will be followed by the PowerSaver Edition of the Radio Disney Team Green Game Show from 5 pm to 7pm. Families attending will be invited to compete for prizes, and Radio Disney will capture the moment with event photos as families pose in front of a life size “Phineas and Ferb” backdrop. Students can also enter a drawing for a chance to win a 90‐minute Radio Disney Party at their elementary school that will feature home energy efficiency content. Representatives from the UVA Community Credit Union will be on hand to answer consumers’ questions about the PowerSaver program, while staff from LEAP will be on hand to provide homeowners with free home energy reports and answer questions about their home energy needs.
In addition, UVA Community Credit Union and LEAP will be supporting the efforts of local elementary and middle schools who wish to participate in the U.S. Department of Energy and National Science Teachers Association’s American Home Energy Education Challenge. This program is designed to help students learn the science of energy and make wise energy choices.
Backed by the Federal Housing Administration (FHA), PowerSaver loans will enable homeowners to make up to $25,000 in energy‐efficient improvements. These can include the installation of insulation, duct sealing, replacement doors and windows, HVAC systems, water heaters, roofing, solar panels, and ground source heat pump systems. PowerSaver loans offer benefits not available through traditional loans, including low rates, flexible payment terms of up to 20 years for renewable energy products and the ability to take advantage of any manufacturer product rebates and federal, state, or local tax incentives or rebates.
The Department of Housing and Urban Development established PowerSaver as part of the Recovery Through Retrofit initiative launched in May 2009. The government estimates that more than 3,000 jobs nationwide will be created during the pilot. At the same time, the PowerSaver pilot is expected to assist approximately 30,000 homeowners to finance energy‐efficient upgrades.
UVA Community Credit Union is a not‐for‐profit cooperative with over 55,000 member‐ owners who benefit from comprehensive banking, lending, investment, and education services. Membership is available to any person who lives or works in Charlottesville, Albemarle, Fluvanna, Greene, Louisa, Madison, Nelson, or Orange and any business located in these areas.
The Local Energy Alliance Program (LEAP) is a community‐based nonprofit that provides local residents and property owners in Central Virginia with a one‐stop shop for information to create a more comfortable, efficient, and affordable home or building. It leads the local effort to conserve water and energy in buildings and to promote cost savings, job creation, sustainability, local economic development and environmental stewardship. Through financing and the bundling of existing incentives from all levels of government and local utilities, LEAP helps home and building owners invest in efficiency.