Union Bank Launches Green Loan Program

June 27, 2007

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Union Bank of California has launched a green loan program offering consumer loan applicants who purchase environmentally-friendly products a 0.25 percent interest rate discount on vehicle and home equity loans.

The program offers the bank’s retail clients and employees the discount with the purchase of new or used vehicles that run on alternative power sources other than petroleum (hybrid or electric). In addition, the discount interest rate applies to home equity fixed-rate loans to consumers purchasing energy-efficient upgrades for their homes.

Recently, the bank provided funding for SOLARA in San Diego County, the first solar-powered apartment community in California to be fully powered by the sun.

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