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

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
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Switch your Child Benefit payments to us.
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Unlock a loan quickly and easily.
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Repay easily in affordable, manageable terms.
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Benefit from caring, community-based support every step of the way.
Key details
£500 - £1,000
42.6% APR
Depending on how you receive your Child Benefit, you’ll make either:
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45 weekly repayments
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12 four-weekly repayments
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:
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You have to be aged 18 or over
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You have to live or work in Bristol, Bath, Gloucestershire, Wiltshire, Somerset, and Dorset
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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
We need this so we can contact you easily.
This is important so we can send your loan documents to you.
This is to prove your identity.
During the application, we will need you to contact HMRC to switch your Child Benefit payments to us.
Keeping your money safe
When you save or borrow with GWCU, your money is:
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.