Citizens Bank announces Energy Efficiency Loan program in Rhode Island
PROVIDENCE, R.I. (November 8, 2007) - Citizens Bank today announced the Energy Efficiency Loan, an unsecured home improvement loan that offers low-to-moderate income homeowners reduced rates on funds that they can use to weatherize their home in an effort to conserve energy and save money. The Energy Efficiency Loan is available year-round.
Examples of energy-efficient home improvements include: adding insulation, installing storm windows and doors and upgrading a furnace or home-heating/cooling system to a more energy-efficient unit.
The borrower must own and occupy a 1-4 family home or condo where improvements are being made. The borrower’s income cannot exceed 80 percent of Rhode Island’s median income or the home must be located in a CRA designated area. This fixed rate, simple interest loan is available from $1,000 to $10,000 and must be paid within 12 and 84 months of applying.
“Citizens Bank understands the importance of an energy efficient household,” said Joseph J. MarcAurele, President, Citizens Bank, Rhode Island. “We developed this loan so Rhode Islanders would have access to funds for cost-effective home improvements.”
For a full list of energy-efficient home improvements that qualify for the Energy Efficiency Loan, contact your local Citizens banker.
About Citizens Bank
Citizens Bank is a division of RBS Citizens, N.A., operating its seven-state branch network in Connecticut, Delaware, Massachusetts, New Hampshire, New York, Rhode Island and Vermont. It has 78 branches and 145 ATMs in Rhode Island.
RBS Citizens, N.A. is a subsidiary of Citizens Financial Group, Inc., a $159 billion commercial bank holding company headquartered in Providence, R.I. CFG’s two bank subsidiaries are RBS Citizens, N.A. and Citizens Bank of Pennsylvania. They operate a 13-state branch network under the Citizens Bank brand in Connecticut, Delaware, Massachusetts, New Hampshire, New Jersey, New York, Pennsylvania, Rhode Island and Vermont, and the Charter One brand in Illinois, Indiana, Michigan and Ohio. CFG has non-branch retail and commercial offices in about 40 states. It is one of the 10 largest commercial banking companies in the United States ranked by assets and deposits. CFG is owned by RBS (The Royal Bank of Scotland Group plc).
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