Category Archives: Loans
We offer small affordable loans of up to £200 but if you receive Child Benefit, you can borrow up to £400
An example of how repayments work if you transfer your Child Benefit to us…
- You borrow £200
- Your Child Benefit for one child is £21.05 a week
- You agree to £10 going to pay off your loan – we take this automatically so you don’t even need to think about it each week
- We put the £11.05 into savings with us – you can withdraw this any time you need it
- At £10 per week, the loan will take just 22 weeks to pay off
- The interest will be £16.03
- The total cost of loan will be £216.03
So many of our members with Child Benefit find this a really easy way to repay their loan and still have access to some of their Child Benefit.
And with Fusion Credit Union, you always know you are getting a fair, affordable loan.
Do you have a friend who gets Child Benefit? Why not tell them about loans from Fusion Credit Union too?
Visit us at www.fusioncreditunion.co.uk
Send us a private message on Facebook
Or call us in office hours on 01543 415 032
The important bits:
Lending is subject to meeting the criteria set out by Fusion Credit Union.
You must have access to a bank account and set up a standing order before you get your loan.
Interest rates are typically 3% per month. We offer interest rate reductions for people who have paid off one loan and come back for a second.
We will agree a regular repayment which we both think you can afford. Unlike many other lenders, there is no penalty for early repayment with Fusion Credit Union.
You will need to be a member of Fusion Credit Union. There is a £2 joining fee.
All members of Fusion Credit Union are expected to be savers with us. Minimum savings usually start at £1 per week.
Fusion Credit Union Ltd is Authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. Registered in England and Wales No. IP00717C.
Registered Office: Jigsaw, 72 Dimbles Lane, Lichfield, WS13 7HL