Energy Efficiency Loans

If you want to lower your utility bills and have a more comfortable home, but can’t afford the upfront cost of a furnace or other improvements, an Energy Impact Illinois (EI2) loan from North Side can help. The EI2 loan helps eliminate the upfront costs for energy efficient home improvements and allow you to repay over a longer period. The savings on your energy bill will help offset the loan payments.

Loans can be used for the following types of efficiency upgrades:

  • Boiler or furnace with additional items – If done in conjunction with a boiler or furnace upgrade, water heaters, programmable thermostats, central AC and other ENERGY STAR® appliances and equipment are eligible. Must be installed by a participating Heating/Cooling contractor.
  • Whole home improvements – Anything recommended by a certified energy auditor that results in a comprehensive savings of 15% or more. Must be installed by a participating energy upgrade contractor.

For more information about the program and participating contractors:

Borrowers: are owners or lease holders of privately-owned structures used as residences with four or fewer living units, or condominium units in larger buildings so long as they are individually heated. Borrower must be eligible for membership in the North Side Community Federal Credit Union by either living, working, worshiping, or going to school in Lakeview, Uptown, Edgewater, or Rogers Park. Borrower can also be an employee of one of North Side’s select employer groups. Please contact the credit union for more information.

Use of Proceeds & Eligible Projects: Loans will fund investment in energy efficiency measures in eligible buildings that achieve a minimum of 15% reduction in estimated energy usage, and/or in building repairs necessary to implement the energy efficiency improvements. Equipment engineering and installation cost and project management costs will be eligible.

Minimum Loan: $500
Maximum Loan: $6,500
Loan Term:  Up to 5 years

Payment Schedule:

  • Fully amortized over the term of the loan
  • Interest only during the construction/rehab period is also permitted

Interest Rate: Maximum of 8%

Program Fees: 

  • $25 loan application fee and $1 one-time membership fee.
  • For loan amounts of $500-2000, member must keep $100 in their savings account, for loan amounts over $2,000 member must keep $200 in their savings account.

To Apply: Fill out and submit the loan application by mail, email (, fax, or in person. Approval takes 48 hours from receipt of complete application. Note: You must have a minimum balance of $100 when you submit the application.

Download Application