Family Loan

Borrow up to £500 for family needs and repay using your Child Benefit.

Get help with essential expenses when you need it most. If you are a parent in receipt of Child Benefit, you can apply for our Family Loan, which lets you borrow up to £500 using your Child Benefit for the repayments and also helps you save a little as well.


Apply for your Family Loan in four easy steps: 

  1. Click the button below to apply for a Family Loan. Alternatively, you can apply at our branch.
  2. If you are not a member yet, please click below to join before you apply.
  3. Arrange for your Child Benefit to be paid into your account with us.
  4. If your loan is approved, review the loan agreement before signing it then return the payment forms we send you.
  5. Your loan will be paid into your bank account as soon as we receive your first Child Benefit payment.


Please note: You cannot apply for another loan until your family loan has been repaid in full.

New Members - Join to apply Existing members - log in to apply

Why borrow from us?

  • No hidden fees or charges
  • No early repayment penalties
  • FREE Loan Protection up to £10,000
  • Interest calculated on the reducing balance


Whether you are a new member or you're already part of the community, we welcome your application.


*Credit subject to status. Terms and conditions apply. We cannot guarantee the approval of your loan application until an assessment has been made.

We may ask you to provide some supporting documentation. The Family Loan has a fixed rate of 42.6% APR.

Frequently asked questions.

  • How do I arrange for my Child Benefit to be paid into my HSCU account?

    When you apply, we will supply you with a form to complete. You can complete the form we send you and send it by post to The Child Benefit Centre or call the Child Benefit Centre direct at 0300 200 3100.

  • Do I need to save while I repay my loan?

    Your loan agreement will tell you how much your weekly/4 weekly repayment amount will be. We will also ask you to pay a minimum of £2.50 per week into savings. You can ask for the remainder of your Child Benefit to be transferred into your bank account, Christmas club, or left to save with us – you choose.

  • How will I receive my funds if my loan is approved?

    Your loan will be paid into your bank account as soon as we receive your first Child Benefit payment. Please make sure we have the right bank account details.