Low Interest Loan Program
All members of
the cooperative are eligible to finance the purchase of electrical
equipment, insulation material, and alternate space heating
equipment for off peak usage. Roseau electric co-op offers members
loans at an 8 % interest for a repayment period of up to 5 years.
This money is available for the addition of new off-peak electric
heat, including the wiring expenses and other related costs.
Loan
Provisions
- Roseau
Electric Co-op requires all loans to be with recourse. Loans are
filed with the state of Minnesota (UCC-1) at a cost of $40.00.
An approved dealer making the sale also cosigns loans.
- Loans over
$2,500.00 need to be approved by the Board of Directors. A member
is eligible for a loan if late charges and collect fees are
under $30.00 for the previous 13 months.
Call Roseau
Electric Co-op at 888-847-8840 for a loan application or for
additional information.
