Our ‘Family Loan and Saving Scheme’ allows all families/individuals in receipt of child benefit to have a loan of up to £500 from the Credit Union. This will be conditional upon child benefit being paid directly to Salford Credit Union. The Loan Repayments are fixed at £14.00 per week of £54.00 if paid 4-Weekly. You must also save £1.00 per week or £4.00 4-Weekly and this cannot be withdrawn until the loan has been repaid in full. The remainder of your Child Benefit will be transferred back to your Bank Account via Bank transfer by 2pm on the day of receipt.
As responsible lenders, we will not offer credit if we believe that you cannot afford to make the repayments.
I confirm that the Child Benefit to be used for this application is in my name *
Repayment of your loan is either £14 – Weekly CHB or £54 – 4 Weekly CHB
Please select you repayment option below
As part of the Family Loan you are required to save with the credit union. You must save £1.00 per week which cannot be withdrawn until your loan is repaid in full. You can choose to save more in your account however, you will not be able to withdraw the first £1.00 per week saved or £4.00 if paying 4-Weekly. Please indicate below your savings option(s)
I declare that to the best of my knowledge I am in good health and fit to carry out my normal occupation and that the information I have given is true and accurate. I understand that the provision of false information is fraud and that the credit union may take appropriate action if I am found to have deliberately provided false or misleading information.
In making this application I apply for membership of Salford Credit Union and agree to abide by the rules if I am not already a member. *
Credit is only available to members of Salford Credit Union. In making this application, if successful, you are accepting the rules of the credit union and agree to be bound by them.