FMCS - Energy Improvement Financing

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Mission Statement

To enhance the quality of life by providing efficient
and reliable energy.

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Energy Improvement Financing

Freeborn-Mower Cooperative Services (FMCS) is now offering its members Energy Improvement Financing. This financing consists of low-interest loans of $1,000-$5,000 to be borrowed over one to five years. The current interest rate is 4.5%.

The financing can be used for such energy improvements as new air conditioners, electric furnaces, electric boilers, plenum heaters, heat pumps, and storage heaters. In addition, financing can be used for insulation, weatherization, external doors, windows, and service upgrades to accommodate other energy improvements.

The following steps illustrate how the program works ...

Member contacts FMCS to get loan application (also available here).
Member obtains a written quote for the improvement/equipment.
Member completes and returns application, along with loan origination fee of $50, and a copy of the contractor's quote to FMCS.
FMCS reviews member application.
FMCS contacts member to let them know if their loan has been approved.
Member purchases equipment and/or has contractor make installation (s).
FMCS contacts member when loan check is ready.
Member picks up loan check and signs promissory note.
Member pays for equipment and/or installation.
Member pays off loan on a monthly basis.

If you have questions on this, or any of our energy services programs, please contact us at (507) 373-6421.