Green loan
Borrow for home energy upgrades or an electric or hybrid car if you live or work in the credit union’s local common-bond area in Ireland.
Finance insulation, solar panels, heating controls, heat pumps, windows and doors, or an electric or hybrid car. You can borrow up to €100,000 and repay over up to ten years. Eligible home-energy grants from the Sustainable Energy Authority of Ireland (SEAI) can be combined with the loan.
You repay the money borrowed plus interest. The published variable rate is 6%, with a 6.17% annual percentage rate (APR). For example, borrowing €25,000 over five years costs €483 a month, with total repayments of €28,999. Rates can rise, increasing the cost of borrowing. There are no set-up fees and no penalties or fees for early repayment. Missing repayments puts the account in arrears and can affect your credit rating and future access to credit.
Eligibility
- You must be a member. You can join if you live or work inside the common-bond area, bounded by Ballinabrackey, Donadea and Drehid to the north; Clane, Donore and Leixlip to the east; Dunbyrne, Clonbulloge and Lullymore to the south; and Knockdrin, Mount Lucas and Rhode to the west.
- New members can apply immediately after membership is complete. The lender assesses your ability to repay; you do not need a savings history. Opening an adult share account requires a €5 minimum share balance.
- For home-energy upgrades, provide a detailed quote. Before the loan money is paid out, provide an invoice with the tradesperson’s IBAN so the credit union can pay them directly.
- For an electric or hybrid vehicle, provide a detailed quote and an invoice with the garage’s IBAN for direct payment. For a private sale, the credit union issues a cheque to the seller after checks, including verifying that the car is electric or hybrid.
- Confirmation of grant applications, such as SEAI applications, may also be required.
How to apply
- Status
- Open continuously
- Round restrictions
- Membership and ability-to-repay assessment apply.
Apply through Croí Laighean Credit Union’s green-loan page. New applicants can join and apply through the published route. To join, complete the online membership form and upload your identification documents through ID-Pal. Provide a current passport or driving licence, a bank statement or utility bill from the last six months, and proof of your Personal Public Service Number (PPSN). A Public Services Card is not accepted as proof of PPSN. You can contact the member-services team on 1800 23 24 25 for help with your green-loan application.