London Mutual Credit Union
Made in London, owned by Londoners
London Mutual Credit Union is a different kind of bank. We make it simple to borrow at low rates, and to build savings for the future. As a credit union, we are not‑for‑profit, and exist to serve the community.
Apply for a Loan
Start Saving Regularly
Use Online Banking
Visit Support Hub
About London Mutual Credit Union
Building a bank for the whole community
At London Mutual Credit Union, we believe that everyone should have the chance to make the most of money, and to be able to use it to reach their goals.
We work to make it simple for everyone to get into the habit of saving regularly, and provide a range of affordable loans and overdrafts at low rates for the times when you need to borrow too.
- Not-for-profit and owned by our customers
- Regulated by the Financial Conduct Authority (FCA) and PRA
- Your deposits up to £85,000 are protected under the Financial Services Compensation Scheme (FSCS)
Get into the savings habit or borrow at low rates with our salary deduction service. To get started, simply join the credit union, and if you work for an eligible organisation, we’ll arrange the rest.
Credit Union savings and loans for Transport for London Staff
London Mutual works in partnership with Transport for London to make it simple for TfL staff to build savings and to borrow, with salary-deducted savings and affordable loans.
Example: £5,500 borrowed over 36 months. 12.68% APR. Total repayable: £6,576.43
News & Updates
According to a new report, over a million people in the UK are in debt to loan sharks. Here’s the story of Kim, who was trapped by an illegal lender. Guest post by the UK Illegal Money Lending Team.
Many people won’t realise that they’re being underpaid by their employer, especially if they earn the minimum wage or living wage. Are you being paid enough…?
Lambeth Council has introduced a set of projects, incentives and Government help to encourage more sustainable habits.
How It Works
Getting started is simple. Join or apply online, in just a few minutes and we’ll take care of the rest
Become a member
Join online and start saving straight away, or do it at the same time as you apply for a loan.
Whether you are here to borrow or save, we’ll encourage you to save regularly.
If you work for an eligible employer, your savings or loan repayments will be deducted directly from your salary.
Manage your money
Check your savings or loan balance at any time using our mobile or web apps or by SMS.