• Fair!  Easy to qualify – no credit checks, just a simple affordability check.
  • Fast! Access your loan quickly
  • Fixed! Simple fixed interest rate – know exactly how much you’ll pay back each month
  • Available to new and existing members
  • You will need to supply your Child Benefit reference number as part of the process – this can be found on your bank statement

Fast loan decisions for child benefit savers

 

How does it work?

 

By arranging for your Child Benefit to be paid into Wiltshire and Swindon Credit Union account, you can apply for a loan with us when you need it, for when those little emergencies occur.

 

We can help you make the arrangements to transfer your child benefit payments. These will go into your regular savings account.  Unless you request otherwise, we will return your excess Child Benefit payment to you, after deduction of the loan repayment amount.

 

When you take out a loan, part of your child benefit will then be used to repay the loan, and the remainder will continue to paid into your savings account. This way your savings will continue to grow, even while you are repaying the loan.  We don’t carry out any credit checks on these loans.

 

When you have successfully paid off half of your first loan, you can then apply for a top-up to your Family Loan.

 

As a parent, you know that you will do whatever is in your power to provide for your family. Our Family Loan lets you borrow up to £500 and use your Child Benefit to repay. You can use the loan for any family expenses, whether planned or for unexpected costs.

 

Note that the Family Loan is only available to people in receipt of Child Benefit.  The first part of the application process is for membership, after which you will be able to apply for the Family Loan.

  • Fair!  Easy to qualify – no credit checks, just a simple affordability check
  • Fast! Access your loan quickly
  • Fixed! Simple fixed interest rate – know exactly how much you’ll pay back each month
  • Available to new and existing members

How much will my loan cost?

Features

  • Borrow between £100 and £500
  • Interest rate 3% per month
  • Fixed monthly repayment
  • Top-up available when 50% of loan repaid
  • Repayments over 12 months
  • Excess Child Benefit will be returned to you after the loan repayment amount has been deducted

 

 

Eligibility

The main requirement to apply for a Family Loan is that you must have first transferred your Child Benefit payments to your Credit Union savings account.
Members must not be Bankrupt, entered into a Trust Deed, DAS, IVA or DRO, and must meet the eligibility criteria to repay the loan.

General Information

 

Applicants must be a UK resident and at least 18 years old.

To apply for a Family Loan online, you must first join Wiltshire and Swindon Credit Union and arrange for your Child Benefit  payments to be paid into your savings account.  You can than log in as a member and then just select the relevant link on the online application section.

 

To set up your Child Benefit payment, call our office now on 01793 522216

Our products

Our loan products at a glance

Loyalty Loan

Up to 5 times your pot of savings

Secured Loan

A loan secured against your savings

Standard Loan

The loan you want - when you need it

Introductory Loan

Helping you to buy that essential item

Member of ABCUL

Authorised and Regulated by

Your money is protected up to £85,000

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