Press release
Minister of State for Finance welcomes launch of Greenify Home Improvement Loan Product
Published on
Last updated on
Published on
Last updated on
The Minister of State for Finance, Seán Fleming TD, welcomes the launch of the Greenify Home Improvement Loan Product, a new credit union led initiative to facilitate the retrofit of homes to improve energy efficiency.
The Greenify Home Improvement Loan Product has been developed and piloted by a group of eight Credit Unions under the umbrella of Collaborative Finance CLG. It offers unsecured loans of up to €50,000 at 6.75% APR with a loan term of up to 7 years.
Commenting on the launch, Minister of State with responsibility for Financial Services, Credit Unions and Insurance, Seán Fleming TD said,
“I welcome this collaborative effort by credit unions to provide greater access to sources of funding to better enable homeowners to retrofit their property and make environmentally responsible decisions.
“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.”
“More can still be done to deepen collaborative efforts in the credit union sector by identifying new lending opportunities and by taking action to meet the pressing needs of their members and the communities they serve.”
ENDS