The Greenify Home Improvement Loan product to facilitate the retrofit of homes to improve energy efficiency has been launched by a group of eight Credit Unions in Ireland.
The Credit Unions, under the umbrella of Collaborative Finance CLG, will offer unsecured loans of up to €50,000 at 6.75 percent APR with a loan term of up to seven years (subject to certain qualifying conditions).
The loans are an effort to support the Government target set out in its Climate Action Plan to target the upgrading of 500,000 homes to a Building Energy Rating (BER) of B2 by 2030. The loan can be used, among other things, to upgrade heating systems, install insulation, install solar panels and upgrade doors and windows.
The Minister of State for Finance, Seán Fleming TD welcomed the launch of the new loan product in an effort to achieve this goals.
Reacting to the launch, t
he Minister said “The Government’s Climate Action Plan has set a target of upgrading 500,000 homes to a Building Energy Rating of B2 by 2030 and these targets represent a very significant increase in both the volume and depth of retrofit activity in Ireland. This initiative is therefore a positive step in supporting the achievement of these targets and can serve as a model of what can be achieved by credit unions when they work together.”
Participating Credit Unions are in Mitchelstown, Bantry, Birr, Borrisokane, Ennistymon, Mullingar, St Jarlath's Tuam and Tullamore. Interested readers are encouraged to contact their local Credit Union directly to find out more and also visit
greenify.ie.
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