Efficiency Loan

Energy Resource Conservation (ERC) loans are made available to Stearns Electric Association members through a program offered by the Rural Utilities Services (RUS) and Stearns Electric Association. As the cooperative’s banker, RUS is allowing Stearns Electric Association to delay making certain principle mortgage payments on outstanding loans. Stearns Electric Association is then making these funds available to our members for energy related improvements to their residence. Financed improvements to a residence must meet the criteria as outlined by the ERC loan program guidelines. Using funds in this manner is in no way putting a burden on the financial security of the cooperative now or in the future.

The complete cost of making EnergyWise® conservation improvements may be eligible for financing with an ERC loan through Stearns Electric Association at 5% interest. Loan funds, up to $5,000, are available for qualifying improvements to homes, businesses, or agricultural buildings at least one year old. The maximum repayment schedule is set at 60 months for a $5,000 loan.

AmountLengthMonthly Payment
$1,00020 months$52.22
$2,00040 months$54.39
$3,00060 months$56.61
$4,00060 months$75.48
$5,00060 months$94.36

Approximate Loan Payment Schedule

Related costs for materials, equipment and labor completed by a contractor are eligible for financing. This includes the expenses for electrical wiring, the heating equipment, and/or duct work.

There are no income guidelines to qualify; however, the applicant’s payment history with Stearns Electric Association is reviewed for consideration.

Installations that may qualify for ERC financing:

EnergyWise® Program Equipment :

Air Source Heat Pump

Heat Storage

Dual Fuel

Stored Water Heating

Other Energy Conservation Improvements:



Storm Windows

Duct Insulation

Pipe Insulation

Ceiling Insulation

Thermal Windows

Attic Ventilation Fans

Storm or Thermal Doors

Floor Insulation

Water Heater Insulation

Wall Insulation

Are You Interested in Applying for an ERC Loan?

To apply for one of these loans, you must complete, sign and return the ERC Loan application.