Dakota Electric Association - Residential Energy Conservation Loan Program

Dakota Electric, in association with Anchor Bank, provides loans to assist residential customers to finance energy efficient improvements to their homes. The loans range from $1,000 and $10,000 and can only be used for energy conservation projects. The interest rate is fixed at 7.99%, but is adjusted quarterly for future loans. Interested customers should call to verify the current rate. Loan applications are available from Dakota Electric upon request and need to be submitted along with a copy of the most recent pay stubs for each borrower as proof of income. If any borrower is self-employed, they need to provide a copy of the first two pages of their most recent federal tax return. Additional information may be found on the program website.