Naveo Credit Union is a community credit union with branches in Cambridge and Somerville. Naveo started out 88 years ago to help local residents navigate the journey of life. We’re a not for profit financial institution owned by you and built around the neighborhoods we live in. Naveo is a refreshing alternative to a bank with great rates and low fees, plus many other membership advantages. At Naveo, we tailor our services to fit your needs by creating a financial plan that matches where you are in life and where you want to be.
Membership at Naveo is open to anyone who lives, works or goes to school in Middlesex and Suffolk Counties and the municipalities of Peabody, Lynn, Salem, Nahant, Lynnfield, Saugus, Swampscott, and Marblehead in Essex county within the Commonwealth of Massachusetts, their immediate family members, and organizations of our members.
Naveo is proud to offer the Solar Loan to borrowers looking to finance their solar loan projects.
Naveo has partnered with The Massachusetts Department of Energy Resource and the Massachusetts Clean Energy Center to offer a low-interest Solar Loan program to qualified homeowners for the purchase and installation of solar electric projects.
Solar Loan Summary:
- Low interest rate
- Borrow $5,000 to $60,000
- Terms up to 20 years
- Up to 12 months of interest-only payments during construction, followed
by standard repayment term of 3 to 20 years.
- For loans up to $20,000, Naveo will file a lien for equipment under the -
Uniform Commercial Code (UCC-1) within the county the property is
- For loans above $20,000 or for more than 10 years, Naveo will file a