*Representative example.

Borrowing £500.00 over 12 months will cost £51.00/month. Total amount repayable is £602.75 which includes interest at 42.6% APR. (Final payment will differ)


The figures given above are for illustrative purposes only. The actual repayment amounts may vary subject to loan amount, date of first payment and status. You should only take out a loan if you are certain you can afford the repayments. Over 18 only.



More information and how to apply

Supporting your financial well-being


Family Loan and Savings Plan can help you to save for holidays, Christmas or for life’s little emergencies whilst repaying your loan.


Getting a Family Loan of up to £500 will help you to manage your family budget and may have a positive effect on your credit report. (Subject to full repayment of loan)


Simply agree to have your child benefit paid directly from the HMRC into your Hoot account. (subject to eligibility and affordability check).


Important – Please check your eligibility and read the terms and conditions of this loan on the next tabs before applying.
  • Up to £500 (subject to eligibility, affordability and rules of the credit union)
  • No set up fees, late payment penalties or early repayment charges
  • 52 x weekly or 13 x 4 weekly payments
  • Healthy savings pot at the end of the loan
  • Option to set up children’s savings
  • Free loan protection insurance (terms and conditions apply

Build up your savings whilst repaying your loan


The Family Loan and Savings Plan is designed to help you access fair credit, even if you have a poor credit rating, and get into the savings habit at the same time.


If you saved the recommended £3.50 per week whilst repaying your loan you will have an amazing £182.00 in savings when the loan is finished, giving you a handy buffer in case of emergency or enough to treat you and your family to something special.


By accepting a Family Loan you are agreeing to have your Child Benefit paid into your Hoot account until the loan is fully repaid. Loan repayments will start when your first Child Benefit payment is deposited. This may take up to 4 weeks and your loan will incur interest during this time.


You also agree to save an agreed amount that will be available to withdraw when the loan is fully repaid.  If you cannot agree to locking your savings until the loan is repaid or topped up, you should not take out a Family Loan.


Please see Terms and Conditions for more details.

You must be eligible for membership.


You must be the recipient of the Child Benefit and agree to your Child Benefit being paid directly from HMRC to your Hoot Credit Union account. You will be asked for proof of receipt of Child Benefit by submitting your bank statement and/or your Child Benefit award letter.


You must agree to save a little whilst you are paying back your loan and to keep those savings with us until the loan has been repaid. Any ‘surplus’ can then be transferred into your nominated bank account, sent to your prepaid card or withdrawn in cash. If you cannot agree to locking your savings until the loan is repaid or topped up, you should not take out a Family Loan.


We regret that are unable to offer a loan if you are on an Individual Voluntary Arrangement or debt relief order or been declared bankrupt in the last 2 years.


If you are not already a member of Hoot Credit Union you will be registered as a member as part of the loan agreement process.


* Meeting these criteria does not guarantee acceptance. Interest and repayments depend on individual applications and will be made clear to you when signing the loan agreement. Late repayment of loans can cause you serious money problems. You should only take out a loan if you are comfortable you can afford the loan and can repay on time. Applicants are expected to save with Hoot while repaying their loan.


Making the right choice


For information on what to consider when looking for a loan click here


If you already have a Family Loan with Hoot and are applying for  a Top Up you should make sure you are eligible before you apply.


You can apply for a Top Up six months after your loan started or you had your last Top Up.


Please do not apply earlier than 6 months as your application will not be considered.


If you are not sure when you are eligible please contact us to check.


Six months since your last top up? Click Apply to continue.


Our loan products at a glance

Handy Loan

Handy Loan

Loans from £200 to £2,000



Budget Loan

Budget Loan

Loans from £2,001 to £10,000




Premier Loan

Premier Loan

Loans from £10,001 to £15,000



Secured Loan

Secured Loan

A loan secured against your savings



Member of ABCUL

Authorised and Regulated by

Member of Credit Uniond for Greater Manchester

Your money is protected up to £85,000