FSB In the NEWS:

Franklin Savings and Northern Lights stoke the fire for pellet stoves

Franklin Savings Bank has teamed up with Northern Lights Hearth & Sports to make being environmentally friendly a little more wallet friendly.

The bank is offering discounted loans for pellet stoves while Northern Lights is offering discounted Harman pellet stoves, both in hopes of making pellet stove systems affordable to Western Maine homeowners.

“Pellet stoves are a growing ‘green’ alternative to traditional wood stoves and oil furnaces that use recycled wood waste that would otherwise go to landfills,” said Andrew Sturtevant, Administrative Vice President, Loan Services, at Franklin Savings Bank. “Since pellets are a renewable, clean-burning fuel that comes from wood waste, forest thinning byproducts and other biomass ingredients, it seemed a natural for our area.”

"This is a great opportunity for people to get a top of the line pellet stove at a great price with a super deal on financing. We are currently burning one of these models in our show room and welcome anyone to come in and check it out. Thanks again to Franklin Savings Bank for supporting green alternatives making it simple to go green," said Marty Farnum, co-owner of Northern Lights.

Specifically, the bank is offering pellet stove loans up to $5,000, for the purchase and installation of pellet stoves. The loan rate represents a substantial discount to the regular home improvement loan rate, said Sturtevant. While the loan is geared to single stove purchases, Sturtevant said the bank will also consider larger loans for those who are looking and more elaborate pellet systems, such as hot water boilers.

Sturtevant has initiated other “green” loan discounts at Franklin Savings Bank for homeowners who install windmills and solar collectors and drivers who buy high MPG gas and hybrid cars. He does more than talk. In warmer weather, Sturtevant makes his 40-mile round trip commute on a pedal-powered Velomobile.

Pictured are (above, left to right) Marty Farnum, co-owner of Northern Lights; Mike Mansir, VP commercial lender at Franklin Savings Bank; Todd Richard, co-owner of Northern Lights; and Andrew Sturtevant, VP loan services at Franklin Savings Bank; and (below) Sturtevant in the Velomobile he uses to commutes to work.