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Media Release
Maleny Credit Union & the Government's Green Loans Program
June 2009
Maleny Credit Union is a financial partner for the Australian Government’s Interest Free Green Loans
Green Loans is a new Australian Government initiative to help Australian families make the right choices for their homes and budget by providing tailored information from in-home assessments and low cost funding from financial partners. The Green Loans Program starts on 1 July 2009. The Australian Government's Green Loans Program, will assist a number of Australian families to install approved water and energy efficient products such as renewable energy systems, wall insulation, glazing, efficient hot water systems and water tanks. The loans will be provided by financial partners, of which Maleny Credit Union (MCU) was one of the first.
As an ethical organisation, MCU lends approximately 60% of its funds for green, sustainable, and socially responsible loan purposes, and as such is deemed an ethical investment. MCU is an award winning brand; having won a number of the highly acclaimed Money magazine awards, primarily for its environmentally designed loans, including being judged the winner of the 2009 Best Socially Responsible Product – MCU Green Appliance Loan.
"At Maleny Credit Union we’ve always been environmentally-focused since our inception in 1984 and the Australian Government’s new Green Loans Program complements our current green style products and values," says MCU Chief Executive Officer, Greg Stevens.
In Brief How the Green Loans Program works
- Book a free home sustainability assessment with a qualified home sustainability assessor to investigate the best actions you can take – you can register your interest now at www.environment.gov.au/greenloans
- Use your tailored home sustainability report which is valid for six months to apply for a Green Loan
- Loans of up to $10,000 will be interest free for the first four years
- No loan application fees applies to these types of loans
- Only one no interest Green Loan can be provided per assessment report but it can be used to finance many activities
- For more information on the Green Loans Program including a full list of eligibility guidelines visit www.environment.gov.au/greenloans
MCU’s new ‘Green Personal Loan’ incorporating the government’s Green Loans Program criteria will be available on 1st July 2009. For loans above $10,000 borrowers can take two loans from MCU:
- Interest free Green Personal Loan for $10,000; and
- Green Appliance Loan for the additional amount of funds required up to $15,000 at the credit union’s standard loan terms & conditions.
About MCU
