Credit unions are to get additional funding of up to â¬10 million for a scheme to finance the retrofitting of homes.
The Credit Union Development Association (Cuda) gets funding from the Sustainable Energy Authority of Ireland (SEAI) for ProEnergy Homes, which is Irelandâs first end-to-end home retrofit scheme.
Cuda on Monday announced an expansion of the scheme. It is currently available through many of the 50 credit unions that work with Cuda, but any credit union can sign up to it through the group.
Cuda said half of the 2021 SEAI â¬1.5 million in grant aid is already allocated. It is anticipated that additional funding will be sought in the second quarter of this year. The interest rate is 6.9 per cent (APR 7.1 per cent), though if a member has savings of a similar value with their credit union, they may qualify for a lower rate.