Credit unions team up for competitive new loan product

Renovate is a collaboration of three credit unions in County Galway which allows homeowners borrow between €20,000 and €50,000 over a 10-year period.

The credit unions participating are Ballinasloe, Gort and Naomh Breandan in Loughrea.

It provides finance to members wishing to extend or improve their homes. It allows members to borrow to improve their homes including extensions, new kitchens/bathrooms, attic conversions/insulations and lots more.

Now is the time of year when a lot of home owners decide to do some home improvements.

A spokesperson said: “This loan is ‘Home Finance made easy’ for you. We at the credit union always take the time to talk our members through their loan applications.

“Our advice to you is to do up a budget first. Make sure you know what the job will cost you and who will oversee the job while it’s being carried out.

“You must take into consideration the disruption to your family and how this might be kept to a minimum.

“Perhaps you might be thinking of selling your home and want to do some renovation jobs beforehand. Renovate is suitable for all types of home improvement work.

“Finance always plays an important part in the proposed task and that is where the credit union can help. No matter what your home improvement loan is for from a total revamp, to insulating the house, to just a little redecorating this group of credit unions will ensure every effort is made to make the loan process a simple one.

For more, read this week’s Connacht Tribune.