Home Office – the New Must-Have Renovation

Over a year ago the COVID-19 pandemic forced the shutdown of our economy changing the way we work and learn. Many families had to juggle working from home with remote learning for their children - creating a need for a separate home office space that can provide a quiet place to work and a professional backdrop for Zoom calls.

Work from Home is Here to Stay

Many indicators point to the work from home trend to continue beyond the pandemic – becoming a viable work choice option.  

A recent survey by Statistics Canada found that a third of Canadians were working from home during the pandemic - up dramatically from 4% in 2016.

Stats Can also project that 60% of Canadians with university degrees will have jobs with the technological capabilities to work from home – making a home office a necessity.

Home Office Adds Value to Your Home

Having a well-designed, purpose-built home office is important to provide a flexible work option for you or a remote learning space for your child. And it could also add value to your home.

As more people opt to work from home it’s no surprise that a home office is quickly becoming an important feature for many of today’s home buyers.

Finance Any Home Improvement Project with a UCU Home Renovation Loan 

Looking to add a home office, remodel your kitchen or update your bathroom? Do you need to replace a refrigerator or repair a leaky roof? Before you reach for your credit card to pay for your home improvement project, consider a UCU Home Renovation Loan instead.

Use a UCU Home Renovation Loan to finance any home improvement purchases you would make using your credit card.

• Apply for a UCU Renovation Loan to help:
• Apply for a UCU Renovation Loan to help:
• Build a home office
• Renovate your kitchen
• Update your bathroom
• Refresh your house with a new coat of paint
• Repair your roof
• Replace your dishwasher, refrigerator, or stove
• Replace your windows
• Repave your driveway
• Any other home improvement project

UCU Home Renovation Loan Advantages

There are many advantages to financing your home improvement projects with a UCU Home Renovation Loan, including:

Lower Interest Rates

UCU Home Renovation Loans typically have lower interest rates than credit cards. If you plan to carry a credit card balance to pay for your purchase, then you will pay less in interest if you opt for a UCU Home Renovation Loan instead.

That could mean a lower overall cost to your home improvement project.

Pre-Approved Loans up to $30,000

UCU has made applying for a Home Renovation Loan quick and easy with no upfront application fees.

Just visit your local UCU Branch and provide some basic financial information, including proof of employment.  A UCU Loan Specialist will then conduct a credit check to determine your credit score. A better credit score means lower interest payments on your UCU Home Renovation Loan.

With pre-approved loans up to $30,000, you can borrow a lot more money for your home improvement project than you could with a credit card.

Fixed Monthly Payments

UCU Home Renovation Loans come with affordable monthly payment options that will suit your budget.

You will have up to five years to repay your loan, with your choice of weekly, bi-weekly, semi-monthly, or monthly payment schedules.

You can even set up an automated payment plan from your UCU Chequing Account for a more convenient repayment solution.

Improved Credit Score

Running up your credit card with expensive purchases could hurt your credit rating. If you repeatedly use up your available credit on a single credit card, that could lower your credit score. You could be viewed by creditors as not using your credit responsibly.

Taking out a UCU Home Renovation Loan for your home improvement project could free up your available credit on your credit card and preserve, or even improve your credit score.

Personal Loan Insurance Premium Protection

You can purchase personal loan protection insurance for your UCU Home Renovation Loan. Life, disability and critical illness insurance can help protect you from an unforeseen event, by paying the outstanding balance of your loan in the event of illness or death, or by making your regular loan payments in the event of a disability. Conditions apply and the cost of the premiums will be added to your loan repayment schedule.

More information about UCU Home Renovation Loans can be found on the UCU website.

Visit your local UCU Branch to apply.