HomePlus Loan

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GEMC Credit Union offers the HomePlus Loan to help customer-owners purchase and install improvements to make their existing homes more energy efficient. Click here to apply.

HomePlus Loan FAQ:


For details about the HomePlus loan, contact GEMC CU:

Apply: gemc.org
Phone: 470.514.3000


Q: What is the HomePlus Loan?

A: GEMC Credit Union loans money to help you install energy efficiency improvements in your home. GEMC Credit Union has been serving employees of Georgia's EMCs for over 40 years and is federally insured by the National Credit Union Association. The HomePlus loan is not administered or serviced by Walton EMC. You will need to contact GEMC CU to apply and for all questions and assistance.

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Q: Who can qualify?

A: Any existing homeowner receiving electrical service from Walton EMC who has a good credit score and payment history with the cooperative is eligible to apply for the loan. The home must be located in the state of Georgia. Loan qualification is subject to assessment of individual creditworthiness and our underwriting standards. All Credit Union loan programs, rates, forms, and conditions are subject to change at any time without notice. Subject to certain conditions, loan default rate may be 16.9 APR. Please speak to your GEMC CU loan representative for available term options.

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Q: How can I use the HomePlus Loan?

A: The HomePlus Loan can be used for the purchase and installation of the following types of equipment in existing homes:

  • Central heat pumps and air conditioners
  • Heat pump water heaters
  • Solar water heating systems with electric back up
  • Replacement windows, roofs, and appliances

All of these items are required to be ENERGY STAR rated for energy savings. Gas furnaces are eligible if combined with a heat pump or air conditioner installation. The furnace must also be ENERGY STAR rated unless installed as an auxiliary heater for a dual fuel heat pump system. Additional eligible improvements include Marathon water heaters, duct work and other HVAC related items as well as insulation and other weatherization products. Loan items requested, but not listed above, will need prior approval.

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Q: How much can I finance?

A: The loan is limited to the actual cost of the equipment, supplies and installation.

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Q: What is the interest rate?

A: For loans of $500 to $7,500, the interest rate is 7.9 APR. For loan amouts over $7,501, the interest rate is 6.5 APR. These rates have been discounted by one percent for payment by automated bank draft.

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Q: How is the loan secured?

A: Loans are secured by signature.

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Q: Are there any loan origination fees?

A: Closing cost is $65.

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Q: What is the length of payments?


Loan Amount Maximum
Length of Payments


$500 to $3,000


$3,001 to $7,500

25 to 60

$7,501 to $25,000

61 to 84

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Q: How do I select a contractor?

A: You select your own contractors. Your contractor will have to meet certain business criteria, supply business information and ENERGY STAR certification on improvements made to your residence before beginning work.

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Q: What if multiple contractors are involved in the project?

A: You will need to obtain all of their bids to determine the total amount you wish to borrow. For example, if you need $5,000 for a HVAC system, $4,000 for windows, and $1,000 for insulation, you apply for the total amount needed ($10,000) before moving forward with the project.

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Q: How do I apply for a HomePlus Loan?

A: After you decide on the improvements and the total amount you need to borrow, apply directly to GEMC CU here. Loans are generally approved by the credit union within 24 to 48 hours upon receiving the completed application.

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Q: How will I be notified of approval?

A: You will be notified by phone by a representative of the credit union. When your loan is approved and closed, you will become a member of the Georgia EMC Federal Credit Union and will be able to take advantage of their full line of financial services. Do not proceed with work until you and your contractor are approved.

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Q: How do I get paid?

A: The credit union issues check(s) to the customer at the time of closing. The check is made payable to you and your contractor(s). If multiple contractors are involved in the project, checks will be issued to each participating contractor. The customer is responsible for giving the check to the participating contractor(s).

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