Local Bank's New Products for Safe Society not Depending on Nuclear Power Generation

Following its declaration on breaking with nuclear power generation, the Johnan Shinkin Bank, a local credit union in Tokyo (head office: Nishi-Gotanda, Shinagawa Ward, Tokyo), started on May 2, 2011 to offer new products and services to back up customers' efforts to reduce power consumption. Due to the Fukushima Nuclear Power Plant No. 1 disaster, there is growing concern over electricity shortages in the service area of Tokyo Electric Power Co. during the summer, when demand peaks. With the aim of realizing a safe society not depending on nuclear power generation, the bank not only makes efforts to curtail its own use of power and energy, but also offers power-saving supportive products and services to customers in the region.

One of the new products is the Premium Deposit for Power Saving; each household that has invested 100,000 yen (about U.S.$1,239) or more in power-saving equipment can make a one-year deposit of up to 1 million yen (about U.S.$12,390) at an annual rate of 1 percent, slightly higher than usual.

The bank also offers Premium Loan for Power Saving to individuals who will borrow money to invest in power saving equipment without interest for the first year and at 1 percent interest after the second year. In addition, the bank presents a piggy bank and a lucky bag to individuals who have reduced their electricity use by 30 percent or more from the same month a year before, allowing them to deposit the money saved on electric bills into the piggy bank.

Posted: 2011/08/21 06:00:15 AM