Northern Virginia Electric Cooperative - Residential Energy Efficiency Finance Program

Northern Virginia Electric Cooperative, through an arrangement with SunTrust Bank, offers loans to its residential customers to have an eligible HVAC dealer replace or upgrade their electric air or ground source heat pump or electric water heater. Customers can call SunTrust at 1-888-SUNTRUST (1-888-786-8787) to find out the current NOVEC interest rate, which is typically two to five percentage points below the average interest rate in the marketplace. If the loan amount is $5,000 or greater, customers may receive an additional 1/4 percent off the interest rate by having their loan payments automatically deducted from a SunTrust deposit account.