Family Loan & Savings Scheme
Our Family Loan Scheme lets you borrow for family expenses and allows you to use your Child Benefit for the loan repayments.
- Complete a quick online loan application.
- We assess affordability with no credit check.
- One Months Bank Statement must be provided.
- Family Loan decision within 2 working days.
- Opportunity to build savings.
We can only accept applications for the Family Loan & Saving Scheme from people who live or work in the Boroughs of Calderdale or Kirklees
How much can I borrow?
Initially up to £500 + Savings
Save as you borrow
With our Family Loan Scheme, you can save at the same time as repaying your loan.
What do I need?
- You must be aged 18 years old or over and in receipt of Child Benefit. You must agree to have this benefit paid into your account with Calderdale Credit Union.
- Provide proof that Child Benefit is paid to you.
- There is no need to be an existing member but you will have to join and save with us if you want to take part in the scheme.
- Repayments tailored to suit you. Simply choose how much you want to put in your savings account each week.
What other benefits does the £500 Family Loan Scheme have?
- After 3 months (12 weekly repayments) you can apply for a top up loan up to £750
- Then a further top up to the maximum balance of £900 after a further 12 weekly repayments.
- Gives a positive boost to your credit rating when you keep to your agreed repayment schedule.
- No setup fees or early settlement penalties.
- Our saving accounts are fully covered by the Financial Services Compensation Scheme (up to £85,000).