Income Support


If you’re on income support or any other type of benefit, we’re keen to help you manage your money.

Whether that’s day-to-day budgeting, or making sure you have a little put aside for celebrations or unexpected items.

Child Benefit

If you have your Child Benefit paid directly into your Credit Union account, you’re eligible to take out a Family Loan

Budgeting Accounts

If you have your benefit paid into your account, with your agreement we’ll put aside certain amounts for regular bills such as your rent. You won’t be able to spend this money and we’ll make sure that money is paid directly.

Remaining funds can be transferred to an account of your choice or paid into one of the card accounts that we can set up for you.

As you’d probably expected, we’ll encourage you to save some of those remaining funds – just £5 a month will slowly build up.

Drop us an email at or give us a call to discuss.

And you can start looking at your personal budgeting here.

Universal Credit

Universal Credit is a new type of benefit designed to support people who are on a low income or out of work. It will replace six existing benefits with one payment and is currently being rolled out across the UK including the London Boroughs of Croydon, Merton and Sutton.

The new system is based on a single monthly payment, transferred directly into a bank account. At present Universal Credit only affects newly unemployed people in certain areas of the country.

What is Universal Credit?

Universal Credit is a single monthly payment for people in or out of work, which merges together some of the benefits and tax credits that you might be getting now.

Universal Credit will replace:

  • Income-based Jobseeker’s Allowance
  • Income-related Employment and Support Allowance
  • Income Support
  • Child Tax Credit
  • Working Tax Credit
  • Housing Benefit

What you need to know about Universal Credit

Universal Credit introduces many changes to state benefits, including how it is paid:

  • It will be paid monthly into a bank account of your choice
  • If you get help with your rent, this will be included in your monthly payment – you’ll then pay your landlord directly
  • If you live with your partner and you are both eligible, you will get one monthly joint payment
  • It can take several weeks after you make your claim to get your first payment

Find out more?

You can find out much more about Universal Credit including working and claiming Universal Credit, when it starts and how to get ready for Universal Credit at the Money Advice Service.

How Croydon Merton & Sutton Credit Union can help?

At Croydon Merton & Sutton Credit Union we’re developing an account that allows you to pay in your Universal Credit directly and then set up automatic payments for the bills you have to pay. You can then transfer the remainder for daily and weekly items like food shopping, save a little bit if you can manage it and the remainder will be transferred to an account of your choice, or one of the card accounts we can help you set up.

Get in touch by email ( or by calling 020 8760 5711 to find out more.