Family Saver Loan
A Wirral Credit Union loan for families, repaid from your Child Benefit, with savings built up alongside it.
How it works
Raising a family is expensive, and it rarely comes in neat, predictable amounts. One month it’s higher food bills, the next it’s school shoes, a broken appliance or a payment you didn’t see coming. The Wirral Credit Union Family Saver Loan might be a good option if you need something affordable and designed to ease the pressure.
You can borrow up to £500 to begin with, and your Child Benefit is paid directly into your Wirral Credit Union account to cover the repayments. As you build a repayment history, there may be opportunities to apply for higher amounts, up to £750 and £1,000. Part of each payment goes into your savings, so you’re building a pot as you go.
We’ll explain everything clearly before anything is set up.
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Borrow from £100 to £500 to start
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Repay over 3 to 12 months
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Repaid directly from your Child Benefit
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Savings built into repayments
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Typical APR 42.6%
What happens with the rest of your Child Benefit?
Any Child Benefit left after your loan and savings is up to you.
You can:
- Keep it in savings with us
- Have it paid back to your bank account
We’ll help you set this up in a way that feels right.
Who it’s for
You can apply if you:
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Are aged 18 or over
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Receive Child Benefit and will continue to receive it for the next 12 months.
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Live or work in a CH postcode
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Are happy for your Child Benefit to be paid into Wirral Credit Union
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Are not currently a Wirral Credit Union member
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Are not currently in a debt arrangement (such as an IVA or Debt Relief Order)
