Low Interest Loans
Off-peak
Heat Loans
Red River Valley Co-op Power offers members loans of up to
$3,000 at 5 % interest for a repayment period of up to 5 years.
This money is available for the inflation of new off-peak electric
heat, including the wiring expenses and other related costs or
for installing a back-up heating system.
Energy
Conservation Loans
Red River Valley Co-op Power offers members loans of up to $1,500
at 5 % interest for a repayment period of up to 5 years. This
money is available for energy conservation measures such as
re-insulating, caulking, weather-stripping, and replacement storm
doors and windows.
Loan
Provisions
- Red River
Valley Co-op Power files a second mortgage on your real estate
as security for any loan over $300. If you are renting the
property or purchasing it on a Contract for Deed, the second
mortgage document must be signed by all parties that have
ownership interest in the property.
- A $40
origination cost, which includes the Cooperative's handling
costs, courthouse costs, and other costs related to the
development of the loan will be added to the loan amount or paid
separately in advance.
Call Red River
Valley Co-op Power at (800) 788-7784 for a loan application or for
additional information.
