Family Saver Loan
We would like to let you know about a new loan product we are launching aimed at giving local families a helping hand in managing their finances more effectively.
How do I apply?
- You can apply for Wirral Credit Union membership and apply for a Family Saver Loan Online; or in person at any branch.
- When applying select your payment method as Child Benefit.
- You will contact HMRC to have all your child benefit paid directly to us. We will send you information on how to do this if your application is successful.
- When we receive your first child benefit payment from HMRC, we will contact you to process your loan.
- All loan repayments will be worked out to include at least £10 per month savings contribution into your savings account.
- You can choose what happens with the remainder of your child benefit after loan and savings payments have been made:
- You can leave it in your savings account to build up your nest egg.
- Or, have it returned to your bank account via BACS transfer, usually the day after we receive your payment.
Am I Eligible?
- You must live and/or work in a CH postcode area.
- You must be over 18 years old.
- You must currently be in receipt of Child benefit and will be for at least the next 12 months from the date of loan application.
- You agree to have your full child benefit paid into your Wirral Credit Union Account.
- You cannot be a current Wirral CU member.
- You cannot be in any debt management arrangements such as IVA, Debt Relief Order, Bankruptcy, Debt Management Plan.
- You can provide 3 months bank statements and complete an affordability questionnaire, or for a faster decision you grant access online utilising Open Banking
For more information please call us on 0151 638 4332 or use our contact form