Build your child's future
Do you need help with building your child’s future?
Whether you are thinking of back to school expenses, school trips, school lunches, extracurricular activities, school holiday expenses or just want to start preparing for their future, M for Money Credit Union is here to help with your financial needs.
By taking advantage of our Child Benefit Loan, you’ll be one step closer to building your child’s future. This is because you will be saving as you pay off the loan. What’s more, if you sign up by 30 April 2022, you will get £10* into your savings account as soon as your Child Benefit Loan gets approved. *Terms and Conditions apply
Choose one of our Child Benefit Loans below:
The £500 Child Benefit Loan
All parents can now apply for a £500 loan straightaway if Child Benefit payments are made into your credit union account. Borrow £500 and repay it over up to 50 weeks. Repay £12 per week and save the rest. Once your loan is cleared then you can withdraw all or some of your savings, continue to save or start a new savings and loan plan.
Savings after your loan is paid (based on a £500 loan over 50 weeks)
1 Child – £20.70 per week = £435.00
2 Children – £34.40 per week = £1120.00
3 Children – £48.10 per week = £1805.00
At a 42.6 % APR compared to a doorstep lender at 399.7 % APR.
The £750 Child Benefit Loan
Take advantage of the £750 Child Benefit Loan that is available to anyone who has two or more children.
“As a working mum… I think most of the options are there in regard to saving and being able to access my money.”
“The reason why I joined M for money, it was actually a friend that introduced me. I was told about the child benefit loan and at the time I wasn’t working… it was like a saving grace because I needed to help my son financially at the time so that £500 on top of benefits was a great help and the way I was able to pay it back just using my child benefit was just amazing to me.”