Grants and Interest-Free Loans to help you through difficult times
At Community Savings, we know that unexpected events can put real pressure on household finances. Our Emergency Funding is designed to provide timely, practical help when you need it most. Depending on your circumstances, support may be offered as a Grant or an Interest-Free Loan.
Emergency Grants – Support When You Need It Most
Emergency Grants are intended to ease immediate financial hardship without adding debt. They are provided where repayment would be unrealistic or place further strain on your finances.
Grants may be considered to help with essential, one-off costs such as:
- White goods and household necessities
- Medical or health-related expenses
- School uniforms
- Essential or unexpected repairs
What you need to know about Grants:
- Awards are based on individual circumstances and available funding.
- Grants are not available to pay off credit card debts or ongoing commitments such as rent or mortgages.
- We welcome referrals from partner organisations, including Citizens Advice, Parish Halls, charities and government service providers.
Once we receive the required documentation, applications are usually reviewed and a decision made within two working days. Providing as much information as possible helps us process your application quickly.
If you’re facing an urgent financial challenge and don’t know where to turn, contact us to see if you qualify for an Emergency Grant.
Interest-Free Loans – Short-Term Help You Can Manage
Interest-Free Loans are available to help members cover urgent expenses or purchase necessities, usually for no more than a few hundred pounds.
Key features of our Interest-Free Loans:
- Loans are exclusively for Community Savings members.
- Applicants are normally expected to have held an account with us for at least three months, although exceptions may be considered.
- Each application is carefully assessed to ensure you have the means to repay comfortably.
- Income must be seen on the applicant’s account.
- As a responsible lender, loans are typically set for no longer than 12 months, so they do not become a burden.
- Repayments are structured to be affordable and appropriate to your financial situation.
Funding cannot be used to clear credit card debts or meet ongoing commitments such as rent or mortgage payments.
How to Apply for Emergency Funding
To apply for either a Grant or an Interest-Free Loan, please contact a member of our team to discuss your situation and eligibility.
You will be asked to attend a budget review and provide:
- Two months’ bank statements
- Photo ID
- Details of any financial commitments
- A statement of income and expenditure (preferably in advance of the meeting)
Applicants may also be expected to show that they have already explored support from Employment, Social Security and Housing services.
If you’re struggling, please don’t bury your head in the sand – you’re not alone.
Let’s talk. Reach out to our team today and take the first step toward getting the support you need.