Michael Needham, Chief Content Officer. Finturf
Moving is a pain at any age. It’s no surprise that 75% of Americans over 50 want to remain in their current homes, according to AARP.
As we age, homes often require modifications to remain safe. These aren’t luxury remodels, but common-sense fixes, like:
- Zero-step entries
- Accessible bathrooms
- Ramps or lifts
- Wider doorways
- Curbless showers with grab bars
- Brighter task lighting
- Slip-resistant flooring
- Emergency systems
- Smart home technology
These types of fixes save lives and prevent accidents. Falls are the leading cause of injury for adults 65 and older, with roughly one in four older adults reporting a fall each year. Practical modifications help reduce that risk.
Credit unions can meet this need with straightforward financing for accessibility upgrades.
Where Accessibility Decisions Happen
Accessibility projects are commonly sold in the home. Contractors offer financing as a sales tool alongside their estimates. A predictable monthly payment removes friction, making it easier for the homeowner to say yes.
If the customer is interested, a contractor typically invites the homeowner to submit a financing application. Multi-lender point-of-sale platforms route one financing request across several financing partners to surface offers in seconds without impacting their credit.
Credit unions can join this marketplace to support the growing number of older homeowners with financing for essential accessibility upgrades.
What a Program Looks Like for a Credit Union
Within the contractor-led financing experience described above, participation is straightforward. Your team sets credit criteria and pricing for accessibility projects. The platform manages the financing request flow and routing.
If you offer a staged funding option, an initial draw can be made after material delivery, and a final draw is made after the homeowner confirms that the work is complete. You can monitor requests, approvals, funding, and completion confirmations online and review performance over time.
Why Credit Unions Offer “Aging in Place” Financing
Credit unions that participate in this channel find that it aligns with their mission and growth. It checks boxes like:
- Supporting member safety and quality of life with modest, aging-in-place accessibility upgrades.
- Attracting new members via a vetted contractor-led financing experience, with room to build broader relationships.
- Adding mid-ticket earning assets without the cost of direct-to-consumer marketing.
Getting Started
Start small, and then expand with confidence. A short pilot can help you test the waters before you scale:
- Define purpose and pricing for accessibility-focused loans, and start receiving new leads from trusted contractors.
- Enable staged funding and homeowner sign-off if that aligns with your policy.
- Track a few basics: approval-to-funding time, average ticket size, early delinquency rate, and member satisfaction.
- Review results after 60 to 90 days and adjust credit criteria and staffing as needed.
An accessibility-focused financing option can address a clear need for many older homeowners and support your credit union’s mission. By participating, your institution is present at the decision point — helping make safer, more comfortable homes possible.
Also see, How Credit Unions Can Meet Rising Home-Improvement Demand