FAST £500 Family Loan
FAMILY LOANS NOW AVAILABLE with QUICK DECISION
Our new Family loans can be for for New or Existing Members who can repay the loan using a regular DWP benefit payment .
Up to £500 is available for a Family purpose: ie. back to school / holidays / family emergencies.
Maximum repayment period is 12 months. ( Earlier repayment available without penalty.)
Rate: 3% p m and a typical repayment of £12 per week or £50 per month would be needed to pay off the loan in 12 months.
Need to ‘save’ part of the benefit each week to a Savings Account which is ‘locked’. So a small surplus is built up as you repay the loan.
Balance of your Benefit would be available to transfer to members bank account or Engage Card.
Member will receive the loan as soon as an existing benefit (ie Child Benefit) is switched to be deposited by DWP into the Members’ Credit Union Account.