Credit Unions Secure Additional €10m for Home Improvement Scheme

Looking to upgrade your home energy systems this year? Whether you've been planning to properly insulate the attic for a while now, or you're still unsure about what kind of heating system would best suit your home, a newly expanded Credit Union scheme may just offer the solution you've been waiting for. 

The Credit Union Development Association (Cuda) has received additional funding from the Sustainable Energy Authority of Ireland (SEAI) to expand their end-to-end home retrofitting loan scheme. Cuda has partnered with ProEnergy Homes and Retrofit Energy Ireland (REIL) to deliver a complete service — they also guarantee that experts will be on-hand to guide you through the process, from the initial survey to the finished product. SEAI offer grant funding of up to 35%, while REIL provides experienced and vetted contractors to carry out works. 

The scheme covers the installation of insulation and heating systems, among other upgrades. Contact your local credit union for more info.

Homes built prior to 2006 are eligible for the scheme, with upgrades available for insulation and heating systems, including the insulation of attics and cavity/external walls, enhancements to heating controls, heat pumps and solar thermal panels, and the replacement of windows and doors.

The Irish Times reports that the average homeowner availing of the scheme spends about €14,000 on their upgrade, with this number made up of grants, borrowings and savings. Described as a 'one-stop-shop' for these kinds of home improvements, the straightforward application process and REIL-approved contractors have contributed to the scheme's popularity over time. 

Over 50 Credit Unions nationwide are already on board with the scheme — if you're interested in applying, contact your local credit union first to check availability.