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Suncoast Credit Union saves money and reduces energy use with solar panels and geothermal heat pumps
Solar power may seem like a no-brainer for a credit union named Suncoast, but the Tampa, Fla., CU is also going underground to achieve its energy-efficiency goals.
Suncoast Credit Union has joined the U.S. Department of Energy’s Better Buildings Challenge with the goal of reducing energy use by at least 20 percent over the next decade.
The $6.3 billion credit union serving 641,000 members opened its first green branch in East Fort Myers in 2013 and currently operates six environmentally friendly facilities. They feature solar panels that provide power during business hours and geothermal heat pumps that circulate through underground systems with relatively constant temperatures to provide more efficient heating and cooling.
“Geothermal has been around for decades, but has not been used a lot until recently,” says Earl Brendle, Suncoast CU’s VP/facilities. “It offers large savings over traditional HVAC systems and is the most efficient type of HVAC that we have been able to find for use in Florida.”
The green branches also employ automated management systems to regulate energy usage, high-efficiency LED lighting inside and out, high-efficiency windows, optimal insulation, recycled carpeting (which has offset more than 172,000 pounds of greenhouse gas emissions, combined), and drought-resistant landscaping to enhance water conservation.
The payback on the investment in the solar panels, which save Suncoast CU about $12,000 per year on its electric bills, will be about 10 years, and the overall return on the CU’s investment in energy-efficient systems will occur in 15 years, Brendle says.
While the six green branches are new buildings, “we are doing some retrofit solar on some of our buildings due to receiving rebates from the power company to offset the costs,” he notes. Adding geothermal to an existing building is more difficult: “Piping needs to be run and wells need to be drilled to supply the geothermal HVAC system,” Brendle explains.
Other green initiatives at Suncoast CU include shred bins at its headquarters and branches, so paper can be sold for reuse by companies that make paper products; higher thermostat settings at all facilities to reduce electrical use; and recycling programs for glass, aluminum, and outdated electronics.
Suncoast CU’s commitment to energy efficiency is “good for the environment and good for business” and resonates with members who want to connect with an eco-friendly financial services provider, Brendle adds. The CU also supports members who want to go green with auto loan rates as low as 1.5 percent for vehicles with a combined EPA rating of at least 28 MPG.
