Homeowners can go green with new CU loan
Thousands of homeowners can now go green with a Greenify credit union loan from Tullamore Credit Union Ltd.
Last Thursday, a group of Irish credit unions launched Greenify, a new green home improvement loan, opening up the opportunity for thousands of homeowners to access green finance to retrofit their homes.
The launch event featured some of the industry’s leading experts in an online webinar hosted by Helen Carroll of RTE’s Ear to the Ground. The event included a thought-provoking keynote from Duncan Stewart as well as an address from Minister Seán Fleming TD and an expert panel that included Colin Tynan from the Waterford Institute of Technology and Ruth Buggie from the SEAI.
Speaking on behalf of Greenify, Caroline Collins, Member Services Development Manager at Tullamore Credit Union Ltd, said: “We are delighted to be part of the launch of Greenify because we believe there is significant demand for green finance amongst homeowners in our local area. We want our members to be able to start their green journeys at home – investing in a retrofit project that will both enhance the comfort of their homes and do their bit towards protecting our environment.
Having an expert panel with the likes of Duncan Stewart really confirms what we have long believed: there is a need to change our collective behaviours and that homeowners need financial support to do this. The green transition will not happen without finance. The Greenify loan will be a core part of Tullamore Credit Union Ltd’s loan product offering.”
The credit unions involved in this initiative are excited to play their part in creating a sustainable future for their members by providing access to green finance of up to €50,000 over 10 years without the need for security.
Greenify loans can be used for a range of projects including a home retrofit project (from shallow to deep), exterior or interior wall insulation, attic insulation, heat pump installations or solar panels/systems. Participating credit unions are willing to look at any energy-efficiency or energy-reduction project which results in an improvement in the BER of the home.
Dennis Daly CEO of Tullamore Credit Union Ltd added: “We are responding to both a climate and a financial demand. Credit unions are passionate about this because our members are. What we do now or indeed fail to do will affect future generations. Our members are conscious of the big climate challenges that we are all facing, but they are also concerned about the rising costs to heat their homes.
We are confident that this path towards greenification is the right one to help our members and our planet. We are just at the beginning of our green journey, and we are excited to work with our members to help them to greenify their lives”.
Participating Greenify Credit Unions want to make the Greenify home improvement loan accessible to as many homeowners as possible. As part of the initial launch phase, Greenify Credit Unions will be working with local tradespeople, engineers, BER assessors, energy groups and others to get them involved in the Greenify initiative. They are also keen to work with their local communities and schools to help educate and inspire them to go on their own green journeys.
Commenting further, Caroline Collins, Tullamore Credit Union Ltd added: “The launch of Greenify highlights a growing awareness among Irish homeowners about the importance of improving their homes to save money and protect the health of the planet. Our approach is to keep the application process simple for the homeowner, support local tradespeople, deliver a professional service and above all, keep it green”.