Roscommon Credit Union is embarking on a New Home Improvement campaign with the introduction of its Lowest Ever Home Improvement Loan Rate of 7% (Apr 7.25%*) as part of its ongoing commitment to tailoring services and products to the specific needs of its members.
A recent survey issued by interiors magazine House and Home has found that almost 30% of people are planning home renovations over the cost of €50,000 this year. When asked what projects they are planning, the works included were re-painting (52%), installing a new bathroom, (44%) heat system overhaul (33%) an extension (33%) new windows (30%), improving BER rating (31%), and an attic conversion (10%).
When it came to why they were renovating, people outlined creating a home with greater functionality (49%) as well as increasing the energy efficiency of their home (72%), with a large amount of people saying they would be using eco-friendly materials, (37%).
Commenting on this research Bernie Moran, CEO of Roscommon Credit Union said: “our members are big fans of home improvement, and the research is reflective of what we are seeing from our members. In the last four months Roscommon Credit Union has lent €781,380.00 to the local Roscommon Community for home improvement projects. With members wanting bigger, brighter, warmer homes, we have seen a significant increase in the number of larger loan applications for house extensions, interior renovations and green retrofitting”.
The new campaign also comes in the wake of Roscommon Credit Union winning the 2019 national Customer Experience Awards, along with more than 240 credit unions across Ireland. Credit unions were ranked number one for customer experience for the fifth consecutive year in the CXi Ireland Customer Experience report, leading the way for qualities such as integrity, empathy and commitment to delivering services in line with members’ needs.
Bernie believes “as a local, ethical lender, credit unions are seeing a surge in larger loan applications, not only for home improvements, but car and wedding loans, and attributes this to the credit union approach to lending. At Roscommon Credit Union we take the time to understand the member’s situation. A member of staff will ensure that the loan is suitable to the member’s needs and their particular financial circumstance.
We offer straightforward flexible loans of all sizes including larger loans. There are no sneaky penalties for paying a loan back early, nor are there any scary hidden fees or charges on our loans. FREE Loan Protection Insurance is another perk of being a Roscommon Credit Union member!
“We are inviting all our valued members, and people thinking of joining Roscommon Credit Union to come in and see us, or pick up the phone and call us, about our Monster Home Improvement Loan. We are looking forward to discussing their plans for that house extension or green retrofit or indeed a new electric car! Whatever the reason, we have the size of loan to match our member’s dreams.”
To Learn More visit our Home Improvmement Loan webpage
For a €40,000, 7 year variable interest rate Home Improvement Loan with 365 weekly repayments of €138.67, an interest rate of 7%, a representative APR of 7.25%, the total amount payable by the member is €50,611.55. Total Cost of Credit is €10,611.55. Information correct as at 09/03/2020.
*Limited Offer. This rate is applicable only for Home Improvement Loans, applied for between 05/03/2020 – 29/05/2020, with a minimum loan term of 36 months. Once approved loans must be drawn down on or before 29/05/2020. Loans are subject to approval. Terms and Conditions apply.