Recently, The Village Bank became the first local bank to endorse the Green Bank Checklist developed by the Environment Committee of the Charles River Regional Chamber. Green Newton has been spearheading the effort to develop and promote the checklist.
In Newton and other MetroWest communities, the residential sector is the single largest source of greenhouse gases. Local banks have a key role to play in providing homeowners with financing to reduce their carbon footprints while saving money.
Representatives from Green Newton, Sustainable Wellesley, and Green Needham have collaborated to draft the checklist and meet with representatives of local banks to encourage them to adopt it.
The first item on the Green Bank Checklist is to offer customers MassSave Heat Loans. These loans are interest free for up to seven years and can be used for insulation, heat pump installation, and other improvements.
“We began offering Mass Save Heat Loans in December, and we immediately received four applications,” said Stephanie Lewers, Senior Vice President, Residential Lending at The Village Bank. “It’s a great product, and we’re pleased to offer it to our customers.”
Green Newton recently received funding through the City of Newton / Village Bank Climate Change Microgrant Program to build a table-top model house, a hand-crafted model that will help residents visualize the many ways they can reduce greenhouse gas emissions from their homes, including some of the improvements that MassSave loans will cover. The Village Bank has expressed interest in showing the table-top model house in the lobbies of its area branches.
To learn more about the Mass Save Heat Loans offered by The Village Bank, contact June B Hudnall, Assistant Vice President/ Mortgage Lending Officer, at 617-340-1253 or email jhudnall@village-bank.com.
Green Newton member Jennifer Nash recently retired from her role as Director, Business and Environment Initiative, Harvard Business School. She is helping our local banks address climate change. For more information about the Green Bank Checklist, contact jennifer@greennewton.org.
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