Daily News

Local Credit Unions Announce Record-setting Commitment to Solar Financing

PIONEER VALLEY — As local leaders in renewable-energy financing, Franklin First Federal Credit Union and UMassFive College Federal Credit Union announced unprecedented success in solar lending volume in 2023. Reflecting upon a record-setting year for both credit unions, during which UMassFive financed 1,272 installations totaling $50,923,810 and Franklin First financed 86 installations totaling $2,746,489, both organizations are reaffirming their dedication to facilitating sustainable futures through access to affordable financing options for solar-energy projects.

Continuing a long-standing commitment to environmental stewardship and community development, both Franklin First and UMassFive have been at the forefront of financing both local and regional solar projects for more than eight years. Offering competitive rates with flexible terms, no loan-origination fees, and personalized service, these financial institutions have empowered individuals and businesses to embrace clean-energy solutions and reduce their carbon footprint.

“Solar is an integral source of sustainable energy for our community,” said Michelle Dwyer, Franklin First president and CEO. “At Franklin First, we are proud to be able to offer funding through our solar loan program to the residents of Franklin County. For us, investing in solar energy means helping households offset energy costs, supporting small business solar contractors, and contributing to the betterment of our community through green energy.”

Rich Kump, UMassFive president and CEO, added that “sustainability is a core principle at UMassFive. We are incredibly proud of the impact we’ve had in advancing solar-energy adoption within our local community, and especially for economically disadvantaged households. Our record-setting year in 2023 is a testament to the growing demand for renewable-energy financing and the effectiveness of our green lending programs in meeting those needs.”

While solar energy continues to gain momentum nationwide, both Franklin First and UMassFive look to remain synonymous with accessible financing options for solar projects of all sizes. “We’re just looking to do our part in helping Massachusetts meet its very ambitious climate goals,” Kump said.

In addition to lending solutions, both credit unions are dedicated to raising awareness about the benefits of renewable energy and promoting sustainable practices within their communities. Offering educational initiatives, outreach programs, and community partnerships, the credit unions are working to inspire adoption of clean-energy solutions and take meaningful steps toward a greener future, all while knowing their collective efforts have helped individuals and businesses save on energy costs and contributed to a cleaner, healthier planet.