Child Benefit Loans
All parents can now apply for a loan of £500 * if child benefits are paid into your account. Loans are repayable over 50 weeks for parents who receive their benefits weekly or 13 months for parents who receive their benefits every 4 weeks. Parents who receive benefits for 2 or more children can apply for a loan of £750 *.
Members who have repaid two or more loans in full AND receive benefits for 2 or more children can apply for a £1000* Family Loan, providing they have £100 in savings in their account.
*Interest on a Family Loan will be charged at 3% per month (APR 36%)
Interest on a Child Benefit Loan will normally be charged at 3% per month (APR 36%)
Which type of loan is best for me?
We offer different types of loans, dependent on your circumstances. There are loans for homeowners, loans for members who have been saving with us and loans for those who are neither of those.
Apply for a Child Benefit Loan Online
All parents can now apply for a loan of £500 * if child benefits are paid into your account.
Become a Member
You will become part-owner of your local community bank – St Albans Community Bank! You will join more than a million people who are members of the credit union movement in Great Britain.
