Borrow up to £500 and pay back through your child benefit.


We understand that the day-to-day expenses of bringing up a family can really add up and sometimes you might just need a helping hand.

Our Family loan scheme allows all families /individuals in receipt of child benefit to apply for a loan up to £500 from the Credit union.

It could help spread the cost of whatever your family needs – whether that’s a new fridge, cooker, kit for school or perhaps the extra costs of keeping the kids entertained during the holidays.

You can join and apply for this loan on the same day (if you are not already a member).

We deduct £14.50 from your Child Benefit every week and the money is split between growing your savings & repaying your loan. The remainder of your Child Benefit is returned to you the same day we receive it via BACS transfer.

If you receive your Child Benefit every 4 weeks, then please multiply these weekly figures by 4 to confirm your repayments.

The £3 weekly savings are placed in an attached savings account, which are locked to your loan. These savings are available to withdraw once you have fully repaid your Family Loan.  You will have £156* saved by the completion of your loan!


Here is an example of if you were to borrow £500 over 52 weeks.

Your weekly loan repayments would be £11.50 and additional £3.00 would be deducted to your savings account giving you a total weekly payment of £14.50.  To borrow £500, you would only pay back £96.92 in interest, while also building your savings for the future.  The total loan repayment would be £596.92.

As an ethical provider your application will be assessed the same as any other Cambrian credit union loan product as we always run an affordability check and a credit check.

  • Easy application Online or in branch
  • Low interest rates
  • Quick decisions
  • No early repayment penalties
  • Free life cover*
  • Decisions made by people not computers


Apply on line or download a loan application form and drop it into one of our branch.

Representative Example: Borrow £500 for 12 months (52 weekly payments total of £14.50 – £3.00 will be taken from total weekly payments and put into members savings account resulting in £156 saved over 52 weeks). Interest: £96.92 APR: 42.6% – Total amount payable: £596.92. Our existing lending criteria applies an affordability and credit check will be undertaken when assessing the loan application. Cambrian Savings & Loans is a trading style of Cambrian Credit Union Limited. Registered Office: 144 Conway Road, Llandudno Junction, Conwy, LL31 9ND. Authorised by the Prudential Regulation Authority and Regulated by the Financial Conduct Authority and Prudential Regulation Authority Registration No: 213672 Loan APR subject to loan value, term and status, T&C apply

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