Umpqua Bank, a subsidiary of Umpqua Holdings Corporation (NASDAQ:UMPQ), has expanded its residential GreenStreet products and services to all Umpqua Bank lending locations in California, Nevada, Oregon and Washington. The program, which was launched in Oregon in late 2008, provides consumers with financing to invest in energy efficiency and renewable energy. Since its inception, the bank has funded more than 125 qualifying projects throughout the state of Oregon.
“Investment in energy efficient homes protects natural resources and encourages the kind of innovation that spurs economic growth and recovery,” said Rick Calero, executive vice president of community banking for Umpqua Bank. “Umpqua Bank’s GreenStreet Lending program aligns with our commitment to invest in the communities and economies we serve by giving residents access to smart, affordable financing for energy-saving improvements and solar power.”
Umpqua Bank’s consumer GreenStreet Lending program offers three affordable loan products that make it possible for homeowners to make energy-saving improvements and harness solar power in their residences. GreenStreet consumer loan products have no origination fees or prepayment penalties.
GreenStreet Lending Residential Loan Products:
|GreenStreet Home Equity Loan||GreenStreet Home Equity Line||GreenStreet Unsecured Consumer Loan|
|Amount||$5,000 - $100,000||$5,000 - $100,000||$1,000 - $50,000|
|Term||Up to 15 years||Up to 25 years||Up to five years|
|Purpose||Energy Efficiency and Solar Power Projects||Energy Efficiency and Solar Power Projects||Energy Efficiency and Solar Power Projects|
About GreenStreet Lending:
GreenStreet Lending is designed to work in partnership with contractors who specialize in energy efficiency and can counsel consumers on energy-saving and renewable energy opportunities. Umpqua Bank maintains partnerships with specialized contractors. In Oregon, selected partners include: Solarize Northwest and Solarize North Portland, and the Home Performance Contractors Guild of Oregon. In Washington, Umpqua is working with Solarize Queen Anne in Seattle. The bank is pursuing similar partnerships in California and Nevada.
In addition to its consumer offerings, Umpqua Bank will soon expand the availability of GreenStreet Lending to businesses within its Oregon, Washington, California and Nevada footprint.
About Umpqua Bank
Umpqua Bank, headquartered in Roseburg, Ore., is a subsidiary of Umpqua Holdings Corporation (NASDAQ: UMPQ) and has 184 locations between San Francisco and Seattle, along the Oregon and Northern California Coast, and in Central Oregon and Northern Nevada. Umpqua Bank has been recognized for its innovative customer experience and banking strategy by national publications including The Wall Street Journal, The New York Times, BusinessWeek, Fast Company and CNBC. The company has been recognized for the past five years in a row on FORTUNE magazine’s list of the country’s “100 Best Companies To Work For.” Umpqua Holdings also owns a retail brokerage subsidiary, Umpqua Investments Inc., which offers services through Umpqua Bank stores and in dedicated offices throughout Oregon. Umpqua's Private Bank Division serves high net worth individuals and nonprofits by providing customized financial solutions and offerings. Umpqua Holdings Corporation is headquartered in Portland, Ore. For more information, visit http://www.umpquabank.com.
Jane Taber, 503-546-7888