BankFive, a mutual bank with 17 locations in Massachusetts and Rhode Island, today announced it will be participating in the Commonwealth’s newly launched Z-Loan Program, an interest-free loan program for home energy efficiency improvements available to eligible customers served by local utilities.
The Healey-Driscoll administration recently launched the $9.7 million program to offer eligible customers of local utilities, otherwise known as Municipal Light Plants (MLPs), up to $25,000 for insulation, heat pumps, energy efficient water heaters, and additional energy-related repairs or upgrades. Homeowners can repay the loan without paying interest for up to five years.
“BankFive is proud to be a statewide lender for the Z-Loan Program,” said Anne Tangen, President & CEO of BankFive. “Individuals and families across the Commonwealth deserve to have access to affordable ways to make their homes more energy efficient and ultimately save money on utility bills. This program fully aligns with the heart of everything we seek to achieve at BankFive – to provide accessible solutions for customers to achieve their financial goals.”
The program is available to homeowners that receive electric or gas service from an MLP and are not eligible for existing Mass Save programs. Because MLPs serve more than 50 cities and towns across the state, this new loan program will provide an additional financing option to thousands of Massachusetts residents that formerly did not have access to such a program.
BankFive’s veteran team of lending officers have a known track record of providing personalized and effective homeowner loans. The bank’s lending services for this program are available to all towns and cities served by MLPs across the state. Homeowners can apply for financing at www.myz-loan.com.
The Healey-Driscoll administration recently launched the $9.7 million program to offer eligible customers of local utilities, otherwise known as Municipal Light Plants (MLPs), up to $25,000 for insulation, heat pumps, energy efficient water heaters, and additional energy-related repairs or upgrades. Homeowners can repay the loan without paying interest for up to five years.
“BankFive is proud to be a statewide lender for the Z-Loan Program,” said Anne Tangen, President & CEO of BankFive. “Individuals and families across the Commonwealth deserve to have access to affordable ways to make their homes more energy efficient and ultimately save money on utility bills. This program fully aligns with the heart of everything we seek to achieve at BankFive – to provide accessible solutions for customers to achieve their financial goals.”
The program is available to homeowners that receive electric or gas service from an MLP and are not eligible for existing Mass Save programs. Because MLPs serve more than 50 cities and towns across the state, this new loan program will provide an additional financing option to thousands of Massachusetts residents that formerly did not have access to such a program.
BankFive’s veteran team of lending officers have a known track record of providing personalized and effective homeowner loans. The bank’s lending services for this program are available to all towns and cities served by MLPs across the state. Homeowners can apply for financing at www.myz-loan.com.