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CUs 2.6M loan finances solar roof project
BRIDGEWATER, N.J. (7/13/11)--An article in the July 8 edition of the Hunterdon County Democrat highlighted Financial Resources FCU’s $2.6 million loan to help finance a solar panel system for a local manufacturing plant. The loan from the $372 million asset Bridgewater, N.J., credit union will be used for photovoltaic solar panel system on the roof of the Fram Trak plant in Middlesex, N.J. Albert Santelli Sr. of Santelli Family Limited Partnership said Fram Trak would not have been able to obtain the loan without Financial Resources FCU. The company had had been dealing with banks for “decades,” he said. The solar panels will cover a rooftop area of about one-and-a-half acres and produce more than 600 kilowatts of electrical power, the equivalent to a year’s worth of power for roughly 60 homes. The energy-saving project is the largest of its kind in Middlesex borough, according to the article, titled, “Credit Union Helps Fram Trak Go Green with Solar Panels.” The system will offset nearly 100% of Fram Trak’s current power usage, which translates to a reduction of more than 800 tons of carbon emissions per year.
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