Clean Energy Credit Union sub debt to expand access to clean energy financing
Inclusiv, Natural Investments and The Kresge Foundation Invest $7 Million in Clean Energy Credit Union to Boost Financing for Green Projects
ENGLEWOOD, CO (October 31, 2024) — Clean Energy Credit Union, the nation’s leading credit union dedicated to financing clean energy projects for consumers, is excited to announce the successful acquisition of subordinated debt funds from three prominent impact investors/foundations. This significant infusion of capital marks a pivotal moment in Clean Energy CU’s mission to accelerate the transition to a clean energy economy through affordable financial solutions.
“Our clients understand that the growth of highly impactful credit unions like Clean Energy Credit Union is critical to decarbonizing the planet and creating the kind of economic and environmental impact that is needed in America. We are thrilled to be a part of this infusion of investment into Clean Energy Credit Union and look forward to their continued growth which will benefit its members and the planet.” Brady Quirk-Garvan of Natural Investments
The capital introduction, provided by Inclusiv, The Kresge Foundation, and Natural Investments highlights the confidence these institutions have in Clean Energy CU’s vision and approach. This strategic partnership will enable Clean Energy CU to expand its lending capacity and further empower people across the U.S. to invest in clean energy projects and initiatives.
“We are thrilled to have the support of these organizations and investors”, said Terri Mickelsen, CEO of Clean Energy CU. “Their commitment to environmental and social impact aligns perfectly with our mission to provide accessible and affordable financing options for clean energy projects. This partnership will strengthen our ability to serve our members and drive positive change.”
Clean Energy CU will utilize its enhanced lending capabilities to expand financing opportunities for a wide range of clean energy projects, including solar PV installations and home energy efficiencies. The capital will also support the expansion of its Clean Energy for All Loan program, enabling the credit union to offer more financing solutions to Marginalized communities and low-income households seeking home energy efficiency upgrades and clean energy projects. By increasing access to affordable financing, Clean Energy CU is driving sustainable investments that benefit both the environment and local economies.
“Inclusiv is pleased to join with the Kresge Foundation and National Investments to support Clean Energy Credit Union’s high-impact clean energy lending and the expansion of its Clean Energy for All Loan program. Inclusiv invests in credit unions dedicated to advancing equitable clean energy financing, homeownership and small business opportunity. Clean Energy Credit Union is a natural fit for our program, and we look forward to continuing to work together with the credit union to build an inclusive, equitable and green economy,” said Cathie Mahon, President and CEO, Inclusiv.
Clean Energy CU is committed to transparency, accountability, and maximizing positive environmental and social impact. By leveraging the support of impact investors and foundations, the credit union continues to lead the charge towards a more sustainable and equitable future for all.
“We know that the adoption of new technologies is bolstered when people see trusted actors or leaders in their community using those advancements,” said Joe Evans, social investment officer at The Kresge Foundation. “That’s why an important part of Kresge’s strategy to usher in an equitable green energy transition is to support organizations that help introduce solar + storage and other clean energy solutions to people living in underserved communities. That’s what this investment is all about. When community anchors and leaders point the way, people follow.”
For media inquiries or further information, please contact Nicole Burford at Nicole.burford@cleanenergycu.org.
About Clean Energy Credit Union
Clean Energy Credit Union is a not-for-profit, financial services cooperative creating a world in which everyone can participate in the clean energy movement. It offers a wide portfolio of banking services that allow members to invest in clean energy, providing loans for clean energy and energy-saving projects such as solar electric systems, geothermal heat pump systems, electric vehicles and green home improvements. Clean Energy Credit Union is an online-only, federally chartered credit union serving members throughout the USA. For more information, visit cleanenergycu.org
About Inclusiv
Inclusiv helps low- and moderate-income people and communities achieve financial independence. Inclusiv is a certified Community Development Financial Institution (CDFI) Intermediary that provides capital, builds capacity, develops innovative products and services and advocates for the community development credit unions in our network. With more than 500 credit union members holding over $300 billion in community-controlled assets, Inclusiv’s network serves more than 20 million residents of low-income urban, rural and reservation-based communities across the US. Learn more at inclusiv.org
About The Kresge Foundation
The Kresge Foundation was founded in 1924 to promote human progress. Today, Kresge fulfills that mission by building and strengthening pathways to opportunity for low-income people in America’s cities, seeking to dismantle structural and systemic barriers to equality and justice. Using a full array of grant, loan, and other investment tools, Kresge invests more than $160 million annually to foster economic and social change. For more information visit kresge.org
About Natural Investments
Natural Investments PBLLC has been at the forefront of the socially responsible investment world for over 30 years. A national portfolio management firm, Natural Investments is an innovative, client-focused company, with a high level of personal attention and individualized service. It is the first financial service company that is owned by a perpetual purpose trust and is a Benefit Corporation. Learn more at naturalinvestments.com
