Terms: $50.00 minimum loan amount $1,000.00 maximum loan amount repaid over 6 monthly payments
Example: $1,000.00 loan $166.66 billed each month for 5 months $166.70 billed for the 6th month
Qualifications: 1) You must be a CPI member for at least 12 months. 2) You must not have received any late notices for the last 12 months. 3) You must not have any outstanding 0% interest CPI loans. 4) Only electrical items can be financed under this program.
How it works: You can make your purchase of new electric items at any retail outlet but we have arrangements with a few local appliance dealers to finance your purchase at the time you make your purchase. Below are the processes for purchasing at a participating or non-participating retailer.
- Participating Retail: The dealer completes the loan form and calls CPI for instant approval. Upon approval CPI agrees to pays the dealer and you receive the amount requested towards your purchase instantly. The amount borrowed is split up into 6 approximately equal payments which are then added to your monthly electric bill moving forward.
- Non-Participating Retail: Contact CPI for instant credit approval prior to making your purchase. Upon approval purchase your electric item and submit your invoice(s) or receipt(s) to CPI. Upon receiving appropriate documentation CPI issues a check to you and begins to add the 6 equal payments to your electric bill.
Some examples of qualifying electrical items are:
|Zonal heat (baseboard or fan forced)||Dehumidifiers|
|Air conditioners (central or window units)||Electronic air filters|
|Electric water heaters||Dishwashers|
|Electric ranges||Microwave ovens|
|Clothes washers||Clothes dryers|
|Electric lawn mowers||Electric barbecue grills|
|Irrigation pump motors||DBS Satellite systems (18″ dish)|
|Electric forced air furnaces||Domestic water pumps|
|Portable electric heaters||Heat Pumps|
|Video Game Systems||Much More!|