Red River Valley REA - Heat Pump Loan Program
Administered by: Red River Valley Rural Electric Cooperative
Quick Summary
RRVREA members can finance heat pump systems through fixed-rate loans at 5% for geothermal or 7% for air-source models with an eight-year term, with payments conveniently added to your electric bill. You'll need to submit a credit application, contractor bid, and property lien documentation, and equipment must be purchased from RRVREA or its subsidiary. Contact RRVREA directly to apply and explore available rebates for HVAC installations.
AI-generated summary • Updated 7/12/2026
Program Details
- Program ID
- 3066
- Last Updated
- 2/11/2025
Eligibility
Program Summary
The Red River Valley Rural Electric Association (RRVREA) offers a loan program to its members for air-source and geothermal heat pumps. Loans are available for geothermal heat pumps at a 5% fixed rate, a 7% fixed rate for air-source heat pumps, and a 10% fixed rate for water heaters. Each loan has a eight-year term. Payments will appear on the electric bill. The loans are only available for equipment purchased from RRVREA or its subsidiary. Contact the RRVREA for more information on this program.
Contact & Resources
Please verify current program details with the administering agency before making any financial decisions.