2 November 2011
A comprehensive research report on the sector – ‘A Co-operative green economy – New solutions for energy and sustainable social justice’ written by Pat Conaty and published by Co-operatives UK, explores the potential for co-operative solutions in renewable energy and household energy reduction.
CDFIs are already beginning to provide some innovative solutions to household energy saving in the form of home improvement loans and lending to the green sector.
cdfa members providing home improvement finance include Street UK Homes, Wessex Home Improvement Loans, Parity Trust, London Rebuilding Society, Lancashire Community Finance and Robert Owen Community Banking Partnership
Martin Hockly of Street UK Homes sees a growing niche market for CDFI home improvement finance and for future partnerships with mainstream banks:
“Affordable home improvement lending is the big new field for CDFI lending…Local authorities are now looking at CDFIs as potential partners to assist them to invest previous grant funds as low cost home improvement loans”
Data from this year’s annual survey of CDFA members showed that 9 CDFIs agreed £12.4m worth of home improvement loans to 1,113 customers. Numbers are expected to grow next year, as the market matures.
Download the full report here