HARRISBURG (August 10, 2007) - As many Pennsylvania families are cranking up the air conditioning to beat the recent heat wave, State Treasurer Robin L. Wiessmann today reminded homeowners that the Keystone Home Energy Loan Program (KeystoneHELP) provides low-interest, unsecured loans for ENERGY STAR home improvements that will reduce cooling costs and conserve energy.
“Pennsylvania homeowners trying to find relief from the heat should not have to break a sweat when facing skyrocketing electric bills all summer,” Wiessmann said. “Our KeystoneHELP program provides a lower-interest way for Pennsylvania homeowners to affordably improve the energy efficiency of their homes and save money on their utility bills.”
Stay cool, Pennsylvania! KeystoneHELP can help finance one of these pieces of ENERGY STAR residential cooling equipment: central and window air conditioning, ceiling fans, thermostats and insulation.
“Using energy-saving products and practices is good for our environment and the public’s health because it helps reduce pollution that causes air quality problems,” said Donald S. Welsh, mid-Atlantic regional administrator for the U.S. Environmental Protection Agency. “The ENERGY STAR program has been incredibly successful in getting more and more people to know that conserving energy helps our environment and saves you money, too."
In 2006, the Pennsylvania Treasury Department partnered with AFC First Financial Corporation of Allentown, and agreed to invest up to $20 million over three years to expand KeystoneHELP statewide. Treasury’s investment in KeystoneHELP provides AFC First, which specializes in consumer loans for energy efficient home improvements, with the working capital to offer below market, 8.99% unsecured financing with a 10-year repayment period. Low-income homeowners are able to obtain loans at an even lower rate of 6.99% interest.
Homeowners from 60 of Pennsylvania’s 67 counties have already applied for and received more than $9 million in KeystoneHELP loans since the program’s statewide expansion. For more information about the program or to apply for a KeystoneHELP loan, please visit www.KeystoneHELP.com.
The Pennsylvania Treasury Department, under the leadership of State Treasurer Robin L. Wiessmann, strives to achieve prudent yet competitive market returns for the Commonwealth’s investments, while ensuring that those investments meet the highest fiduciary standards. Treasury also offers a wide range of programs and services to Pennsylvania families, such as helping to make college possible with the Pennsylvania College Savings Program; returning abandoned and unclaimed property to its rightful owner or heir; and funding energy efficient home improvements through the KeystoneHELP low-interest loan program. For more information about Treasurer Wiessmann and the Pennsylvania Treasury Department, visit www.patreasury.org.
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