Introducing the Family Loan: A simpler way to borrow, built for families

09 October 2025

Mother Cooking Spaghetti With Two Children

Introducing the Family Loan

At Great Western Credit Union, we know that managing money, especially as a parent, isn’t easy. Whether it’s school uniforms, childcare costs, or a well-deserved family holiday, the pressure can build quickly, especially when access to affordable credit is limited.

That’s why we’re launching the Family Loan: a new way to borrow that’s designed to be simple and supportive for families like yours.

Why this matters

Many of our members are navigating real financial pressures and turn to us for fair, affordable credit. We created the Family Loan because we understand who our members are and what they’re up against.The reality is 77% of our borrowers are women, and 44% are parenting alone. Most are managing on household incomes under £40,000, often without savings to fall back on. And with 56% of women managing the financial decisions at home, the pressure to make every penny count is real.

We are turning our insights into action, designing a loan that supports you with a simpler, more predictable way to borrow so you can focus on what matters.

What is the Family Loan?

The Family Loan is a fixed lump-sum loan between £500 and £1,000, repaid directly from your Child Benefit. It’s not revolving credit so there are no top-ups, no ongoing debt, and no surprises.

If you’re currently on our Family Finance Plan (FFP), you may be eligible to apply and if approved, we’ll use part of your new loan to clear your FFP balance, and you’ll receive the rest as a lump sum. Log in to the member portal to see if you are eligible to switch.

Who is it for?

This loan is designed for anyone who receive Child Benefit and wants a fair, affordable way to borrow and build financial resilience to support their family in the way they need. Whether you’re a single mum, a carer or a working parent trying to stretch every pound, the Family Loan is here to support you.

How to apply

If you think the Family Loan is right for you, you can apply here.