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Family Loan

Enjoy stress-free repayments and dedicated support, so you can focus on what truly matters: your family.

Mother Cooking Spaghetti With Two Children

Your benefit, your timing

Whether it’s a well-deserved family trip, back-to-school essentials, or birthday celebrations, we’re here to help you enjoy what matters most.

How it works

  • Switch your Child Benefit payments to us.

  • Unlock a loan quickly and easily.

  • Repay easily in affordable, manageable terms.

  • Benefit from caring, community-based support every step of the way.

Key details

Loan amount

£500 - £1,000

Interest rate

42.6% APR

Repayment period

Depending on how you receive your Child Benefit, you’ll make either:

  • 45 weekly repayments

  • 12 four-weekly repayments

Representative example

Weekly repayments: Borrow £1,000 over 45 weeks, and repay £25.94 per week. Total amount payable (including interest of £167.30) is £1,167.30. 42.6% APR representative.

Four-weekly repayments: Borrow £1,000 over 48 weeks, and repay £99.08 every four weeks, total amount payable (including interest of £188.96) is £1,188.96. 42.6% APR representative.

Ready to finance your goals?

To apply for a loan, you need to meet the following criteria:

  • You have to be aged 18 or over

  • You have to live or work in Bristol, Bath, Gloucestershire, Wiltshire, Somerset, and Dorset

  • You have to be receiving Child Benefit (for the next 12 months or more)

  • You have to be willing to switch your Child Benefit payment to us

Here’s what you need to apply

Personal mobile phone number

We need this so we can contact you easily.

Personal email address

This is important so we can send your loan documents to you.

Your national insurance number

This is to prove your identity. 

How to find your national insurance number.

Ability to switch your Child Benefit to us

During the application, we will need you to contact HMRC to switch your Child Benefit payments to us.

Not sure if you have this information?

Helpful information

How long does it take to set up a Family Loan?

Depending on how often your Child Benefit gets paid and how you choose to switch, it could take up to 28 days to set up your account and release funds.

Once we receive your first Child Benefit payment, you will be able to access your loan.

Do I need to prove that I receive Child Benefit?

You do not need to provide proof that you receive Child Benefit but your loan will not be available to you until we receive the first payment.

What happens to my Child Benefit?

The whole of your child benefit will be paid to Great Western Credit Union (GWCU). You'll pay back a set amount every week, or every 4 weeks using your Child Benefit, whenever you have a balance outstanding on your account.

The rest of your Child Benefit will go to your Easy Saver account.

You can take money out from your Easy Saver when you need to, or build your savings. You can see your balance and make withdrawals by logging in to your account.

Borrow with your local credit union