Frequently Asked Questions

1. What is an Energy efficiency loan?
   It is a loan designed for the express use of energy efficiency improvements in a single family residence.
2. What improvements does the loan cover?
   
   • ENERGY STAR approved All-Electric Heat Pumps (including air source heat pumps, geothermal heat pumps and their associated ground loop systems and accessories such as high efficiency filtration equipment)
   • ENERGY STAR approved Electric Water Heating (including traditional water heaters, heat pump water heaters)
   • ENERGY STAR approved Solar Water Heating, or Solar PV systems
   • Existing Home Weatherization (including insulation, caulking, weather-stripping, ventilation, storm windows, storm doors, thermal windows and thermal doors and other approved improvements per GEFA guidelines.)
   • The loan may not be used to refinance other loans. For example, you may not use loan proceeds to pay off "90 days same as cash" or other similar loans.
3. How do I qualify?
   
   • Electric service from Cobb EMC Pataula District
   • Good credit history
   • Proof of income
4. What is the interest rate for an Energy Matters Efficiency Loan?

Loan Amount	Minimum Rate	Term
$1,000-$5,500	0% APR1,2	36 Months
$5,501-$7,500	7.50% APR1	Term Varies by    Amount Borrowed
$7,501-$10,000	7.50% APR1
$10,001-$15,0003	7.50% APR1

If you choose to pay with bank draft, your loan rate will be discounted by 0.50%. Closing cost is a flat $65, payable at loan closing. Please speak to your GEMC FCU loan representative for available term options. See loan disclosure for complete loan details and terms.

¹APR: Annual Percentage Rate. Rate is fixed for the life of the loan and bank draft payment is required to receive this rate.
²Interest Rate reflects an interest rate buy-down program made available through the Energy Efficiency and Conservations Block Grant Program and Georgia Environmental Facilities Authority in conjunction with the American Recovery and Reinvestment Act of 2009.
³Using principal property as collateral with Deed to Secure Debt.

5. How do I get started?
   First determine the improvements you want to make to your home and obtain an estimate for your home energy upgrades from the approved contractor list. Then you submit your estimates with loan application. To apply online click here or you can print and mail the completed application to: GEMC FCU P.O. Box 450449, Atlanta, GA 31145-0449 for approval.
6. How long will it take to process my loan application?
   Loans are generally approved by the Credit Union within 24-48 hours upon receiving the completed application. Please do not proceed with your home improvements until you have received confirmation from GEMC FCU.
7. How and when are my contractors paid?
   Once your home improvements have been completed, Cobb EMC Pataula District employee will inspect the work. You will sign your loan documents and the check will be made payable to you and the contractor.
8. How will I make my loan payment?
   Your monthly loan payment will appear on your Cobb EMC Pataula District electric bill and will be applied to your Energy Efficiency Loan.
9. Whom can I contact for more information? 
   If you are a residential member, call Cobb EMC Pataula District at
   229-732-3171 or 888-631-9757.