Our Family Loan can help you take care of your family expenses from time to time.
A Family Loan from Bradford District Credit Union allows all families or individuals in receipt of child benefit to have a loan up to £500 with an APR of 42.6%. We will need to check that the loan is affordable for you and we will need you to pay your child benefit directly to us.
Please Note: This loan is NOT for debt consolidation
Benefits of our Family Loan:
Save as You Borrow
If your child benefit is more than your loan repayments you can use the remainder to grow your savings. You can withdraw the savings using our online service! Transfers made on this before 2.30pm are done the same day.
as you can take a loan without paying an early repayment charge
We make sure a loan from a credit union is affordable. And if your circumstances change, we are here to help you
The following terms and conditions for the Family Loan are:
You must be over 18 years old
You must be in receipt of child benefit
You will need to make arrangments to have your child benefit paid to your BDCU account
Borrow between £200 and £500 at 42.6% APR
This loan is subject to affordability checks
There will be an insolvency register check completed which will leave a credit footprint. Missed payments, defaults and CCJ's are not factored into the decision on your family loan application.
Once your loan is approved and first child benefit payment has being received, it will be sent to you via faster. Therefore, can be available the same day
Family Loan - Apply Now!
Credit union loans are simple. It takes just a couple of minutes to apply. Use the slider below to see how much it would cost to borrow. And remember, you'll always get a quicker decision if you opt to use open banking.