Financial Resources Federal Credit Union Helps Finance Solar Energy Project
520 U.S. Highway 22, First Floor
Bridgewater, New Jersey 08807
In these times of rising energy costs and concern about the environment, Financial Resources Federal Credit Union is proud to announce the closing of a $2,600,000 loan to help finance a photovoltaic solar panel system on the roof of the Fram Trak manufacturing plant in Middlesex, New Jersey. “As a company that is committed to promoting green energy, we are honored to be part of this very important project,” explains Philippe Ferreira, AVP, Member Business Lending, Financial Resources Federal Credit Union.
The solar panels will cover a roof top area of approximately 1 1/2 acres, and produce more than 600 kilowatts of electrical power, which is equivalent to a year’s worth of power for 60 homes or more. This use of solar energy will offset almost 100% of Fram Trak’s current power usage, which impressively translates to a reduction of over 800 tons of carbon emissions per year. “We are looking forward to being in the forefront of green technology implementation,” says Albert Santelli, Jr., CEO of Fram Trak Industries.
Albert Santelli, Sr. of Santelli Family Limited Partnership is very excited about the energy saving prospects of using solar energy. “If it weren’t for Financial Resources, we wouldn’t have been able to do it,” noted Santelli. He clarified that the process of securing the loan was quick and painless by adding, “I’ve been dealing with banks for decades, and the people at Financial Resources were a joy, unlike your typical banker.”
The contractor for the project is KRN Solar, LLC., a company with extensive experience in creating renewable solar energy solutions for both residential and commercial customers. They are particularly committed to helping companies achieve a greener future. This energy-saving project is the largest of its kind in Middlesex Borough. Financial Resources Federal Credit Union hopes this will inspire other companies to explore the use of renewable energy sources.
For more information, contact Dan Gontcharenko, Director of Marketing, 908-253-6431 or Mike Ciavolino, 732-229-7100.
About Financial Resources Federal Credit Union
Financial Resources Federal Credit Union, formerly the Ethicon Employees Federal Credit Union, is a federally chartered credit union that offers a variety of financial products and services to its members, and business services for its member companies, organizations, and the communities of Flemington, N.J, and the greater New Brunswick/Somerset, N.J. area. Financial Resources is regulated by the National Credit Union Administration (NCUA), and savings are federally insured to at least $250,000 and backed by the full faith and credit of the United States Government. Headquartered in Bridgewater, NJ, Financial Resources has almost 25,000 members and total assets of over $400 million. Visit www.MyFinancialResources.org for more information.
About FramTrak industries
Fram Trak Industries is a leader in Thermoplastic and Biopolymer processing. It is widely recognized in the industry for the outstanding performance of its custom plastic extrusions and injection molded products made for a wide variety of applications, including medical, aerospace, automotive, display and cosmetics. Fram Trak’s divisions include Wire Trak wire management systems — nonmetallic surface mount electrical wire ducting and accessories (wiretrak.net), E-Stat Immobilizer Cervical Collars (medbrace.com), Farm Trak — equine electrical safety fencing systems (farmtrak.com). And Lima biopolymer lip sticks and cosmetics packaging. Division products are also proudly produced in the U.S.A.
About KRN Solar LLC
KRN Solar, LLC is a leading solar contractor that specializes in both commercial and residential solar applications. KRN prides itself on customer service and providing a Turn-Key solar solution for any project. Please contact Sean with KRN Solar, LLC. Speris@krnsolar.com
732.266.0905. Please also visit our website at www.krnsolar.com