Family Loans in Stockton
At Tees Credit Union we aim to try and help as many people as possible access fair and affordable finance and prevent people using high cost lenders. If you’re wondering where to get a family loan in Stockton, you are in the right place.
What is a family loan?
Our Family Loan has been created for families or individuals who receive child benefit in the Stockton area and need a little extra helping hand. It is a loan of up to £500 for those in receipt of child benefit and does not require a credit check – making it an accessible and simple loan option when you need it most.
Our ‘Family Loan’ product allows all families/individuals in receipt of child benefit to have a loan of up to £500 from the Credit Union without having a credit check – this will be conditional upon child benefit being paid directly from the DWP to the Credit Union.
The whole child benefit can be used to make the repayments however a smaller amount may be agreed with the member following an affordability check. Once the loan payment is made any extra amount can then either be left in as savings, withdrawn weekly/monthly or split between savings and withdrawal.
Our members are able to transfer from their savings account direct to a bank account using our online banking facility.
Criteria for the loan is simple, you must;
- Be aged over 18
- Be in receipt of Child Benefit and agree to have it paid in to your main Tees Credit Union and sign the relevant form before we send the funds
- Have a high street bank or ENGAGE account
- Agree to our Credit Union rules
When searching for a family loan lender in Stockton, you need a trusted and reputable company who can offer transparency and honesty. As a credit union we can do just that, and can offer a loan which can either help you get started with savings or improve your credit score if repaid to schedule. Looking for a family loan today? Please click here to apply for your Stockton family loan and get started today.
Types of family loan
Our family loan is not to be confused with the generic ‘family loan’ term which applies to family members lending you money under their own terms. This is not properly governed and an area we advise you to avoid. Choose a reputable lender who has a proven history and get a fair and transparent loan.
Family Loan application
New member – Family Loan application
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Membership is open to all who live and work in the Tyne and Wear, County Durham, Teesside or Northumberland region.
Joining Moneywise is free and all we ask is you save regularly to support our funds for lending. We only lend to members so you can be confident your savings are being used to support like-minded individuals.