DENVER--(BUSINESS WIRE)--Sep. 2, 2009--
U.S. Bank is testing a new home equity loan and line of credit program
in Colorado that offers customers a three-eighths percent rate reduction
for qualified “green” home improvement projects.
Energy efficient or “green” improvements include: insulation, windows,
doors, roofing, heating, ventilation, air conditioning, water heaters,
biomass stove, ground source heat pumps, solar energy systems, small
wind energy systems and fuel cells. In addition to qualifying for a
reduced rate loan or line, many of these home improvement projects may
qualify for tax credits.
“U.S. Bank is firmly committed to creating environmentally friendly
products and services that help our customers do what so many of them
want to do instinctively – protect the environment,” said Lisa O’Brien,
director of environmental affairs at U.S. Bank. “We launched a green
auto loan in April and have had an outstanding response. We expect our
green home equity loans and lines will be equally popular, and most
importantly, will result in making a positive impact on the environment.”
“U.S. Bank collaborated with State Representative Joe Miklosi, State
Senator Gail Schwartz and the Colorado Governor’s Energy Office (GEO)
for this program,” said Hassan Salem, president of U.S. Bank in Denver.
“U.S. Bank chose to pilot the program in Colorado based on the state’s
commitment to promoting energy efficient home building and because
Coloradoans are known for their love of the outdoors and green living.
There has also been increased consumer interest in tax incentives and
"We know that how we build and improve our homes today directly
influences how we consume energy tomorrow," said Tom Plant, GEO
director. "U.S. Bank’s launch of this pilot project is a further
endorsement of Governor Bill Ritter’s vision to increase affordability
and accessibility of the New Energy Economy to citizens throughout the
U.S. Bancorp (NYSE: USB), with $266 billion in assets, is the parent
company of U.S. Bank, the 6th largest commercial bank in the United
States. The company operates 2,850 banking offices and 5,173 ATMs in 24
states, and provides a comprehensive line of banking, brokerage,
insurance, investment, mortgage, trust and payment services products to
consumers, businesses and institutions. Visit U.S. Bancorp on the web at www.usbank.com.
Source: U.S. Bank
U.S. Bank Media Relations
Teri Charest, 612-303-0732