Bendigo makes it easier being 'Green'
As Australia grapples with a nation-wide drought and a rapidly changing environment, Bendigo Bank has today introduced a Green Home Loan to encourage the construction of environmentally and energy efficient homes.
Launched today, the Green Home Loan is the second in a series of environmentally friendly loan options developed by Bendigo Bank.
"This range of products, which includes a Green Personal Loan, makes a further commitment from Bendigo Bank to promoting sustainability in the communities we serve," Bendigo Bank Managing Director Rob Hunt said.
The Green Home Loan will be priced at a .50% discount to Bendigo's standard residential variable rate, saving customers $500 per year on a $100,000 loan.
"Our Community Bank and Community Telco initiatives have proven to us that Australians do care about the fabric of their communities and are prepared to channel their co-operative spirit into securing their economic and social future," Mr Hunt said.
"Now with these products, Bendigo will provide customers with the means of contributing towards environmental sustainability through the installation of environmentally-friendly products which also promise to deliver them energy cost savings.
"These initiatives are good for customers, good for the environment and are good business for our bank.
"Helping to build sustainable communities is essential for our business to reach its potential - and, frankly, it's the right thing to do. If we are not building sustainability into our customer base then we are jeopardising the long-term future of our own business.
"We have always said that successful customers and successful communities create a successful bank - in that order. Investing in sustainability is a great investment for our business."
Bendigo Bank has worked closely with government departments and environmental consultants regarding the criteria new homes need to meet for the owner to qualify for a Green Home Loan.
Design features can be as simple as installing a solar hot water system, AAA rated low flow shower heads, ceiling and wall insulation, fluorescent lighting and ceiling fans in living areas.
Or more complex, including external awnings on eastern and western windows, draught proofing on external doors and windows, locating the laundry and bathroom to the west of the house, tinting east and west facing windows and the installation of a grey water treatment system.
All of these initiatives count towards the five star environmental rating required when applying for a Green Home Loan.
Mr Hunt said Green home loans would also provide significant discounts to Bendigo Bank customers looking to improve the energy efficiency of their homes.
Bendigo Bank launched a Green Personal Loan for customers earlier this year.
Bendigo Bank is Australia's only regionally based bank, operating 230 branches, including company and community owned, throughout Australia. It has assets of $8 billion.