St. Canice’s Credit Union HAS A BRAND NEW ENERGY LOAN SCHEME FOR 2017
St. Canice’s Credit Union continues to be there for those in the local community by offering a unique loan and energy grant scheme for members. This scheme is unique to the Credit Union and only open to members of St. Canice’s Credit Union who borrow to improve the energy efficiency of their home (once your house was built prior to 2006). You could insulate the roof or walls, upgrade the heating, get a new boiler or make a number of other recommended energy saving improvements. This Community Energy Loan Scheme is supported by SEAI (Sustainable Energy Authority of Ireland) in partnership with REIL (Retrofit Energy Ireland Ltd.)
It has a low interest rate of 6.4% variable (6.6% APR*) with a maximum term of 5 years. The maximum loan value you can borrow is €50,000, so plenty of scope to get your home completely cosy as well as saving money on energy bills in the future. There is a 35% energy grant on the total value of the energy retrofit works completed. So, for example if your home would benefit from a new stove, attic insulation or a new front door and that would all cost around €5,000, you would get a grant of €1,750, meaning that you would only need a loan of *€3,250, which over 3 years would have weekly repayments of €23.00. The total interest payable on the loan would be €325.40 and the total amount repayable would be €3,575.40.
The good news is that there are no paperwork headaches as the grant application, administration and retrofit works are all completed by REIL.
If your home has previously been grant aided by SEAI for a specific energy measure, no further grants will apply for the same works. However you can apply under this scheme for an SEAI grant to carry out additional or new energy saving home improvements. REIL will check your eligibility to see what measures you can avail of to qualify for the energy retrofit grant.
It is important to know that All Energy Retrofit works must be completed by Friday, 29th September 2017. So this is a very limited offering to the community.
The expression of interest form in the scheme can downloaded from the St. Canice’s Credit Union website www.stcanicescu.ie or can be emailed to you by calling the Member Service Centre on 056 – 77 22 042 or by drop into any of the 10 St. Canice’s branches: Ballingarry, Ballyragget, Callan, Dunnamaggin, Durrow, Graignamanagh, High Street in Kilkenny, MacDonagh Junction Shopping Centre in Kilkenny, Mountrath and Rathdowney.
Terms & Conditions and normal lending criteria will apply. St. Canice’s Kilkenny Credit Union Limited is regulated by the Central Bank of Ireland.