Lower your energy bills and save!

michigan saves logoFreeStar Financial Credit Union is a proud lender for the Michigan Saves program. This program allows you to work with Michigan Saves authorized contractors to have a complete analysis of your home to determine energy efficiency. After you've learned how much you can save on your energy bills, you can obtain low interest financing at FreeStar Financial to make the improvements!

Benefits of the program include:

  • Borrow $1,000-$4,999 at a rate of 5.74% APR up to 60 months or
  • Borrow $5,000-$15,000 at a rate of 5.99% APR* up to 120 months
  • Combine with federal tax credit for more savings

If you have any questions about the program, please call FreeStar Financial at 586-466-7800 opt. 3, or visit the Michigan Saves website.

Applying for this product is as easy as 1-2-3!

  1. Go to www.michigansaves.org to get an estimate on qualifying energy improvements from a Michigan Saves authorized contractor. You can decide whether to have an energy assessment completed or can choose from a list of pre-qualified energy improvements.
  2. The homeowner, with the assistance of the contractor, will submit a loan application either online or by phone with the Michigan Saves Lending Center and will receive a decision within minutes.
  3. Once the loan is approved and income is verified (if applicable) the contractor will start working on the energy efficient improvements. Once all improvements have been completed, a Certificate of Completion signed by the homeowner and contractor will be submitted to the Centralized Lending department. The homeowner will then be contacted to set a date and time to close their loan and sign their membership application (if non-member). The credit union will deposit their $10 share into their account (if non-member) and once the documents have been signed, the proceeds will be sent directly to the contractor.

*APR = Annual Percentage Rate. Payment example: a loan of $10,000 for 120 months at 5.99% APR would have a monthly payment of $111.27.

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