Hot on the heels of its Green Car Loan, the Maleny Credit Union (MCU) has recently launched a home loan that directly encourages energy efficient housing. The loan offers a competitive interest rate and no ongoing fees for homes that meet five or more energy saving criteria. The "Cool Home Loan" has been developed in conjunction with the Queensland Conservation Council as part of the Cool Communities initiative.

John Ford, Manager of Maleny Credit Union, expects the Cool Home Loan to prove popular. "Not only will it help the environment but it will also reward borrowers with a competitive home loan and ongoing energy bill savings. It's a good example of how our core business of credit provision is being directly linked to our environmental and social objectives".

Kirsten Macy, Cool Communities Facilitator with the Queensland Conservation Council, said "Australian households generate one-fifth of Australia's total greenhouse gases. Householders can make a huge reduction in greenhouse gases by reducing energy usage in their own homes and making some simple changes in their daily lives. An average family can easily save three or more tonnes of greenhouse gases and hundreds of dollars a year in reduced energy bills".

To qualify for a Cool Home Loan, in addition to satisfying normal credit guidelines, borrowers need to meet criteria comprising features that go to make a home energy efficient. First they must meet the mandatory criteria of "Anything but electric hot water" - e.g. Solar or Instant Gas. Then they must meet 4 of the remaining 9 energy saving criteria:

• Water efficient fittings (dual flush toilets, AAA rated shower roses)
• Eaves not < 600mm on eastern and western walls
• Roof insulated (Minimum Australian Standards)
• Walls insulated (Minimum Australian Standards)
• Ceiling insulated (Minimum Australian Standards)
• Connected to Earths Choice Electricity
• Windows tinted on eastern and western walls
• External awnings or shadings over windows on eastern and western walls
• Solar PV panels

Mr Ford explained "The aim of the Cool Home Loan is to influence people when designing or buying a home to consider ways in which they can make it more energy efficient. The loan offers good value for money, no ongoing fees and a free redraw facility to provide ongoing flexibility.

To mark the launch we have also arranged with Barung Landcare to provide the first 10 Cool Home Loan borrowers with complimentary trees to the value of $100". Elaine Green, President of Barung Landcare, said "Plants can make a big difference to the natural temperature control in a home. The staff at Barung are happy to provide free advice on the suitability of plant species to Cool Home Loan borrowers".

Mr Ford said "The Cool Home Loan is being offered at a significant discount to our normal home loan rate and this has been partly made possible due to the support received from the Cool Communities initiative, the Queensland Conservation Council and the Australian Greenhouse Office. We are grateful for their input and support and hope to encourage home borrowers to a better environmental outcome".

The first ten (10) Cool Home Loan borrowers will also receive a free energy saver pack donated by the Cool Communities initiative. In the interests of financial inclusion there is no minimum Cool Home Loan lending amount.

MCU is currently taking applications for the Cool Home Loan and can be reached on 5494 2144 during business hours.

About Cool Communities: Cool Communities is a world first and aims to save tonnes of greenhouse gases per household every year. Maleny Credit Union is one of two Cool Communities projects currently underway in Queensland as part of a nationwide project involving 22 communities across all States and Territories. The Cool Communities project estimates a saving of 16,000 tonnes of greenhouse gases in its first year.