Solar Water Heater loans

Harness the power of the sun with a Solar Loan from the Grenada Public Service Co-operative Credit Union Limited. The GPSCCU has been your saving institution for years, and now it’s helping you to save even more by reducing your electricity bills through purchasing a Solar Water Heater. Your Solar Loan allows you to “Go Green” and do your little bit to save the environment. The GPSCCU will provide you with a list of approved Solar Water Heater Dealers from which a choice can be made. Normal Credit Union lending policies apply, and at an interest rate of 8% with 1-5 years repayment, warm baths for you and your family no longer have to be imaginary or expensive! An average household with an electric water heater spends about 25% of its home energy costs on heating water. Using solar water heaters, which use free solar energy, can save hundreds of dollars a year. When electricity rates increase, the savings increase. The average Solar Water Heater pays for itself in about 8 years time.

Frequently Asked Questions

  • My loan is on automatic payments it is due on a weekend or holiday, when will it post on my account?
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    Automatic payments are scheduled to transfer to the loan in the evening.  In the event that the payment is scheduled for the weekend or a holiday, the payment will transfer to the loan the next business day, in the evening. The delayed processing will not negatively impact your account.  

  • I am having trouble this month making the payment.  What should I do?
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    We encourage you to contact your Loan Analyst immediately upon experiencing difficulty making your payments.  Wewill work with you to find a solution.

  • My payment might be a few days late, will there be a fee?
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    No late fee will be applied to your balance, however, your interest due to date might exceed your regular monthly payment. Contact your loan analyst to find out the implications of late loan payments on your account.