The Filene Research Institute and Hall Associates Consulting, LLC are collaborating to assess the extent and performance of North American credit unions ‘green’-oriented lending. Regardless of their current green-lending profile, all credit unions are encouraged to complete the survey. The results will be published in 2011, along with a guide that outlines the opportunities, variables, and challenges of green lending.
To access the survey, CLICK HERE
Please complete the survey before: Friday, February 4, 2011
Large banks are increasingly focused on environmental initiatives, according to research by Hall Associates Consulting, LLC, a credit union-focused consulting firm. Bank of America has earmarked $20 billion for a ten-year environmental initiative addressing climate change, including energy efficiency and clean energy investments and services. Citi is aiming $50 billion over ten years at alternative energy, ‘clean technology’ and carbon reduction. And a new commercial banking group at Wells Fargo is designed specifically for businesses that manufacture, market or develop clean technology products and services.
Even without the scale of these banks, credit unions are beginning to act more locally with products like energy-efficient mortgages and loans for fuel-efficient vehicles. “The volume of household-level green lending in the United States could be as much as $100 billion, even if only 10% of households participate,” notes W. Robert Hall, president of Hall Associates Consulting.
Below is a list of the green loan products covered in the survey. Even if your credit does not offer any ‘green’-focused loans, please take the survey. This information will help assess the extent of credit union lending for:- Fuel Efficient or Electric Vehicles
- Energy Efficient Mortgages—EEM’s (i.e. 1st Mortgage products offered by FHA, Fannie Mae, or Freddie Mac or FHA )
- Home Energy Efficient Windows
- Home EnergyStar Appliances
- Home Energy Efficient Heating/Cooling Systems
- Home Insulation or Weatherization
- Home Geothermal Systems
- Home Wind Energy Systems
- Home Solar Hot Water Systems
- Home Solar Electric Systems
- Home Water Conservation Improvements
- Business Energy Efficiency, solar or wind energy improvements
Credit unions that participate will be asked about the specific components and financial performance of their loan products. Data submitted for the survey will be reported in aggregate, and individual credit union data will be kept confidential.
Photo Credit: skrobotic via flickr
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