Boulder-based Clean Energy Credit Union receives federal charter

BOULDER – The National Credit Union Administration has granted a federal charter to a new credit union based in Boulder called Clean Energy Credit Union that will serve members of the American Solar Energy Society, also based in Boulder.

CECU is the first new credit union in Colorado to receive a federal charter in 31 years.

The credit union’s mission is to promote clean energy, environmental stewardship and cooperative enterprises through the web-based financial services it provides to its members.

The credit union uses deposits that are federally insured solely to provide loans for clean-energy projects.

“We envision a world where everyone can participate in the clean-energy movement,” said board chairman Blake Jones and co-founder of Boulder-based Namaste Solar. This new federally chartered credit union will make it easier for people to both invest in and use clean energy in order to help protect our environment and improve our economy.”

Chief executive Terri Mickelsen. said the credit union will operate solely via online and mobile-banking applications. “The reduced overhead will allow us to pass on the resulting savings to our members in the form of better interest rates and lower service fees, she said.

Mickelsen expects the credit union will begin accepting deposits and loan applications prior to year-end 2017. In the meantime, next steps include launching a crowdfunding campaign and preparing for a membership drive.

Initially, CECU will offer savings accounts, clean-energy CDs, and loans for solar-electric systems, clean-energy vehicles and energy-efficiency home improvements. Expanded financial services offerings will be brought online following the first year of operations and are likely to include checking accounts, debit cards, credit cards and a wider variety of clean-energy-focused loan products.