We want our members to feel that our services are relevant to them, and suit their changing circumstances. Alongside our rebrand to Beacon Savings and Loans, we have developed a new suite of products that we feel will help our members even more moving forward.

Family Loan is ideal for people who are new to us and haven’t had the chance to build up any savings yet. We want to support members to accumulate savings and improve their credit ratings, but we understand that you have to start somewhere.

Previously called the Introductory Loan, the new Family Loan is specifically for people who pay child benefit, with this being directed to the credit union account. You will be able to receive up to £800, whilst saving every month to build the habit and help you in the future.

You can find out more about our Family Loans on the dedicated page.

Saver Loan has been our core product for over 20 years and will be familiar to many of our members and people who’ve used credit unions before. Members must have been saving with us before they’re eligible to apply for a loan.

As we’ve looked across our brand to find better ways to communicate to members, we’ve reviewed the Saver Loan to make sure it suits members’ needs. We have increased the maximum value and length of repayments and will also reduce interest rates as the amount of savings increases.

Read more about the Saver Loan.

Salary Saver Loan is offered to employees of partner organisations within our common bond area and is a brand-new product. We recognise that financial struggles can have an impact on employees in the workplace and be detrimental to them and those they work with.

We want to support employees to get the help they need, whilst giving them a way of saving easily. Members accessing the Salary Saver Loan only need to save as little as £10 a month, which can still build up positive habits.

You can learn more about the Salary Saver Loan here.  

Saver Secured Loan is a product that many of our members have requested in the past, and we’re pleased to now be able to offer it. For members with substantial savings with us, you will now be able to apply for loans equal to those savings, to enable you to retain the savings and benefit the credit union, whilst borrowing securely.

If you’re interested in the Salary Secured Loan you can find out more.

Want to find out more?

We hope these new products offer our members a better range of services that are more suitable to their daily lives, and will help them with whatever stage of life they’re in. With any financial products, it’s important you understand exactly what they offer, and what they’ll mean to you.

We’re here to help, and if you have any questions about our new products or any of our other services, please get in touch.