We understand that the day-to-day expenses of bringing up a family can really add up and that sometimes, you might need a helping hand.
That’s why we’ve created our Family Loan, which lets you borrow up to £1,000 using your Child Benefit for the repayments.
It could be a real help in spreading the cost of a new laptop or gadget to help with homeschooling, or with other family costs like toys, clothes and uniforms- it’s up to you.
We pride ourselves on our fair and affordable interest rates, and at 42% APR, the Family Loan could save you hundreds of pounds compared to borrowing from other lenders.
Family Loan Representative example: Borrow £1,000 for 12 months at 42% APR.
Repay in 12 monthly instalments of £100.30
Total repaid £1,204 Total cost of borrowing £204
Borrowing with a difference
Borrowing from a credit union is different to banks and other lenders. We’re a not-for-profit organisation, run for the benefit of members – who are co-op people just like you.
That means we can offer you competitive rates on loans, and we’ll also help you to build up a savings pot as you repay.
It’s a safe, fair and affordable way to borrow, and helps build your credit history for future borrowing.
Fast-track Family Loan approval
The Family Loan is linked to your Child Benefit payments, so there’s a very high approval rate if you pay your Child Benefit in to the credit union, with loan decisions made by people, not computers.
And, once you’re up and running, you can easily request to top up your loan again too.
Any Questions? See our FAQ below, or contact our team who will be happy to help
What our Members Say
Since we launched our Family Loan, we’ve had a great response from our members, with 100% saying that they would recommend it to friends*. We’re committed to offering great service and products, but don’t just take our word for it, here’s what our members have to say about our family loan:
“Extremely easy to set up and a great way to get the funds you need”
“It helped me out so much”
“Very fast and easy application”
“Would recommend – brilliant service!”
*100% of respondents to our Family Loan applicant feedback survey said they would recommend it to a friend