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Family Loan Options
Designed with families in mind. If you're in receipt of Child Benefit, our Family Loan offers a simple and affordable way to borrow for life's everyday family expenses. Our Family Loan provides fair, responsible borrowing with repayments tailored to your budget. Delivered in two offerings, Family Loan 1 and Family Loan 2 cater to your family size.
Family Loan 1
Affordable borrowing for families with one child. If you're in receipt of Child Benefit for one child, our Family Loan 1 could help with the cost of everyday family life. Whether it's school uniforms, children's clothing, household essentials or unexpected expenses, you can borrow up to £1,000 with flexible repayments over a maximum term of 24 months. Designed to provide fair, responsible lending when you need it most.
Fixed rate:
19.56% APR
Terms from:
3 - 24 months
Loans from:
£100 - £1,000
Fixed rate:
19.56% APR
Terms from:
3 - 24 months
Loans from:
£100 - £2,000
Family Loan 2
Extra support for growing families. If you're in receipt of Child Benefit for two or more children, our Family Loan 2 offers access to borrowing of up to £2,000. Covering family expenses can be spread over repayments of a maximum term of 24 months, making borrowing straightforward and affordable.
Family Loan Eligibility
To be eligible for the Family Loan, you must meet the following criteria:
✓
Be a member of Castlemilk Credit Union.
✓
Ensure your Child Benefit payments are paid into the credit union.
✓
Signup your child(ren) with junior accounts at the credit union.
✓
Provide birth certificate(s) and/or Child benefit receipt paperwork.
Why Borrow with Castlemilk Credit Union
Owned by You
As a financial co-operative, we're owned by our members, not external shareholders. That means every decision we make is focused on delivering value to our community, providing fair, affordable financial services and putting our members' interests first.
Your Loan is Protected
Eligible loans are protected at no extra cost, giving you and your loved ones added peace of mind. If an eligible member passes away, the outstanding loan balance is cleared in line with our Loan Protection policy, helping to ease financial worry during difficult times.
Manage your Account
Stay in control wherever you are with our secure mobile app. Check your balances, view transactions, make payments and manage your account anytime, making it easier than ever to keep on top of your finances.
Tailor Made Loans
Our loan products have been carefully designed to meet the needs of our local community. Whether you're borrowing for everyday expenses, family costs or larger purchases, we offer fair, flexible lending with products that work for you.
Representative Example
This example is based on a Family Loan 2 of £2,000 over 24 months.
Loan Amount:
£2,000
Representative APR:
19.56%
Monthly Repayment:
£101
Total Repayment:
£2432
The APR shown is representative. Your actual rate may vary based on your circumstances.