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Low Interest Loan Program

All members of the cooperative are eligible to finance the purchase of electrical equipment, insulation material, and alternate space heating equipment for off peak usage. Roseau electric co-op offers members loans at an 8 % interest for a repayment period of up to 5 years. This money is available for the addition of new off-peak electric heat, including the wiring expenses and other related costs.

Loan Provisions

  • Roseau Electric Co-op requires all loans to be with recourse. Loans are filed with the state of Minnesota (UCC-1) at a cost of $40.00. An approved dealer making the sale also cosigns loans.
  • Loans over $2,500.00 need to be approved by the Board of Directors. A member is eligible for a loan if late charges and collect fees are under $30.00 for the previous 13 months.

Call Roseau Electric Co-op at 888-847-8840 for a loan application or for additional information.

 
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Roseau Electric Cooperative, Inc., 1107 3rd Street NE, Roseau, MN 56751
Phone: 218-463-1543 or 888-847-8840 E-mail: rec@roseauelectric.com

Copyright © 2002-2015 Roseau Electric Cooperative, Inc. All rights reserved.