WATERFORD Credit Union has teamed up with Encon to help bring warmth and energy efficiency to homes across Waterford city and county. 

Achieving a warmer, healthier and energy efficient home has never been easier with a Green Loan from Waterford Credit Union and Encon’s five-step process.

Conor Walsh, MD, Encon, advised “Rising energy costs are a huge burden on people however, they can combat rising costs using our tailor-made retrofit services. Another important consideration is people want to do more about their carbon footprint and reducing carbon emissions from their homes. What’s more, people are living in cold and damp homes, yet are spending big money on energy bills. These retrofit measures address all of this, including issues of mould, dampness and uncomfortable living conditions.”

“If you can afford it, it is the way to go. It makes your home more comfortable and easier to heat. There’s a variety of options to suit all budgets.”

First step…
The first step is to contact Encon and arrange for one of the team to call out and assess your home. Encon will develop a Home Energy Assessment outlining current BER and a roadmap for improvement, along with costs and grant entitlements.

info@encon.ie | 051-850722 | www.encon.ie

What grants are available?
80% grants are available if you are looking at single measures, such as insulating cavity walls and attics. Houses that are 20-25 years old are getting a 50% grant in a lot of cases and the older and harder to treat houses are normally around 30-35% grant. Encon collects the grant on behalf of the customer when completing a deep retrofit and the customer comes up with the balance/net difference. When availing of the individual grant rebates, the homeowner must pay the full amount and then collect their rebate from SEAI.

Bridging the gap between overall cost and grants available… 

Bridging the gap between grant entitlement and overall cost is where Waterford Credit Union can help. 

Ann-Marie Drohan, Marketing and Business Development Manager, Waterford Credit Union advised, “Green Loans are available from €500 up to €100,000. Members have the option to spread their repayments between 1 - 10 years. How much the member applies for will depend on how much work they plan on getting done less available grants, this can range from just insulation to full deep retrofits. A Green Loan example – cost of home energy upgrade is €40,000, the homeowner receives grants of 35% and approach WCU for the balance of €26,000. In this instance, for a Green Loan of €26,000 over 7 years the repayments are €386.09 per month or, €295.22 per month over 10 years.” Green Loan rates up to €100,000 are at a reduced variable rate of just 6.5% (6.70% APR).

Applying for a Green Loan
Ann-Marie explained, “Once the member/new member obtains their home assessment report from Encon, they simply contact our lending team with the amount they wish to borrow and we can start the ball rolling.”

New members are always welcome to join Waterford Credit Union. Once you live, work or study in the area, you can become a member and apply for a loan.

Waterford Credit Union: loans@waterfordcu.ie | 051-861616 | www.waterfordcu.ie

Representative example:
€26,000 borrowed over 10 years at a variable rate of 6.5% (APR 6.70%) equates to 120 monthly repayments of €295.22 and a total amount repayable of €35,424.20.

Waterford Credit Union Limited is regulated by the Central Bank of Ireland. Each loan is subject to individual assessment. If you do not meet the repayments on your loan, your account will go into arrears. This may affect your credit rating. Variable rate of 6.5% (APR 6.70%). Terms and conditions apply.