Benefits Loans

For those receiving Welfare Benefits

A little boy and a little girl dressed in T-shirts and hugging each otherThe lack of affordable credit for people on low incomes has long been a source of concern, as such people are often forced to turn to high cost doorstep lenders and even illegal loan sharks. Essex Savers is pleased to be able to offer loans to those on benefits.

To be eligible for this loan offer you must be over 18, open a savings account with us, agree a savings and loan repayment plan, and have your Benefits paid directly to Essex Savers net Credit Union. You can apply for a loan immediately and your funds will be available for withdrawal as soon as your first benefit payment has been received. You will need to arrange for your benefits to be paid into your Essex Savers account). Click here for the DWP Payment of Benefits form.

This is an excellent way to borrow and a safe way to save for Christmas, a holiday, school uniform or the unexpected. You will also have the convenience of an Engage Visa debit card for shopping and for you loan to be loaded onto

To apply for an Essex Savers Benefits Loan download and complete the application form and budget sheet below. Take them together with a current bank statement to your local Service Point. (Click the “Service points” button above for a list).

Alternatively they can be sent or taken to our head office in Chelmsford; they can be scanned and emailed, faxed, posted or delivered in person. Our head office address is shown below.

As part of our assessment process we may use credit reference and fraud prevention agencies to help us make decisions. All loans are subject to Loan Officer / Credit Committee decision and the availability of funds.

Planning and managing repayments

Essex Savers is flexible with regard to repayment plans and when our members face financial challenges. Should you experience difficulties in meeting your repayment commitments you should contact us immediately to explain your situation to us. We will treat the matter sympathetically and do our best to help.

Please remember that it is vital to repay loans in line with your agreement with us. If you don’t, it is other credit union members who suffer.