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Our family loan is ideal for those bumps in the road that we all experience from time to time when you need a little bit of extra help to support your family. Things like the cost of back to school, Christmas, holidays and those unexpected expenses that just crop up from time to time.

To be eligible for a Family Loan:

  • You must be over 18 years old
  • You must be in receipt of child benefit
  • The CHB must be in the applicants name
  • You will need to transfer your child benefit to your Clockwise Credit Union account to repay your loan
  • All applicants considered regardless of personal circumstances

APR & Repayments

The APR for a Family Loan is 42.6% APR. There are no application fees or early repayment fees.

Example: You could borrow £500 at 42.6% APR from Clockwise over 12 months. Your repayment would be £50.23 every month. The total you would pay is £602.76.

  • Maximum loan term is 60 months.
  • Minimum loan term is 60 days.

Manage your Money Better

If your child benefit amount exceeds your loan repayment amount, you can use the remainder to set up a Clockwise savings account. Alternatively, you can choose to have the money paid back into your own bank account.


What is a Credit Union?

A Credit Union is a financial cooperative owned and controlled by its members. Much like a High Street bank, Credit Unions can provide savings, loans and a range of services to their members. Unlike a bank, Credit Unions do not have to answer to shareholders or investors. So the emphasis is always on providing the best service to members – not maximising profits.

Loan Calculator

7.9% APR
Every month £114.90
Total To Pay £3447.90
Total Interest to pay £1347.90
High Cost Lender Comparison
APR 399.7
Total To Pay £3447.90
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