Family Loan

 £500 Family Loan & Saving Scheme

With our  family loan, you can borrow up to £500 for family expenses and use CHB (child benefit) for the repayments.

. Up to £500, minimum £100

· Repayments up to 12 months

. Interest rate of 3% per month, 42.6% APR

· Based on affordability

· No credit checks

· No early repayment penalties

· Opportunity to build savings in one or more of our savings accounts

To be eligible for the family loan

. You must be a member of LASER Credit Union and not have an existing Starter loan or LASER loan where CHB (child benefit) is already used for repayments

· You must be aged 18 or over

· You must be in receipt of Child Benefit and be able to provide proof of this

· Child Benefit to be redirected into your credit union account before receiving your loan

Child benefit Loans and Saving

The whole amount received weekly or 4 weekly can be used to make the loan repayments but a smaller amount is usually agreed with the applicant following the affordability check.

Any surplus amounts can be withdrawn, or partly/fully saved in a LASER Credit Union savings account.

Saving with us, even it is just a small amount, is encouraged.

If you have any questions, the team at LASER are happy to help and you can contact them by secure message on our website, email, or by phoning 01709 836500.

If you are already a member with us you can also get in touch by sending a secure message on our mobile app.

If you would like to apply, click on the apply now button below

Apply Now