The summer holidays are here and you know what that means…the ‘Back to School’ signs are already up.

A parent’s work is truly never done. No sooner have you finished reading their end of year report card, your mind is already planning for a new term. And planning is key, because school equipment does not come cheap. The new uniform, sports kits, stationary, musical instruments. You don’t need a calculator (although they probably will) to work out that all these things are going to cost a tidy sum. And we haven’t even mentioned the family summer holiday.

Parents with children in state maintained schools spent on average £337 a year on school uniform for each secondary school child, and £315 a year for each primary school child, according to a 2020 survey by charity The Children’s Society of 1,000 parents across the UK. That’s more than three times what parents told The Children’s Society they felt was a reasonable cost for primary (£85) and secondary (£105) uniform.

Why PCCU’s Family Loan & Saving Scheme could be just the answer

PCCU has a long history when it comes to offering help with school clothing costs…as well as everything else associated with summer holiday spending.

Our Family Loan and Saving Scheme has enabled thousands of local families to go out and buy items such as school uniforms at a time when money may be tight. The scheme allows all families/individuals in receipt of child benefit to receive a loan of up to £500, on condition that benefit payments be paid directly from the DWP to the PCCU. The whole child benefit can be used to make the repayments, however we tend to work on agreeing a lesser amount once an affordability check is carried out. The surplus amount can then be placed in a savings account ensuring when ‘school’s out for summer next’, you won’t be out of pocket.

£500 Family Loan & Saving Scheme

Even if you already have a Family Loan with PCCU, it’s worth checking to see if you are eligible for a top up. This can be re-used to increase your existing loan balance, and can be applied for once a number of repayments have been made.

Always do your homework before applying for a loan  

With so many lenders out there, and so many different figures flying around, it can sometimes feel like a lesson in finance is required before deciding who to use. While PCCU will more often than not be top of the class when it comes to competitive interest rates, it’s our community ethos that really makes us stand out from the rest of the crowd.

Family has always been at the heart of what we stand for, and it’s a real source of pride that we’re able to say we have stopped thousands of little ones from going without over the years. As a not-for-profit cooperative our sole focus is on making account holders happy, not shareholders. Whether it’s help with school clothing costs, a new car or a family holiday, PCCU will tailor loan repayments to suit your personal and financial circumstances.

No homework this week, but if you would like a quick refresher on how we can help with school clothing costs click here or apply for our Family Loan & Saving Scheme online for a quick decision within 24 working hours.