London Mutual Credit Union

Your money.
Your community.
Your credit union.

Banking that puts Londoners first — with fair loans, savings from your salary or benefits, people-first mortgages, and everyday services to help your money go further.

Join today Apply for a loan

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What we offer

Regular deposits from your salary or benefits
A credit union savings account makes it simple to pay yourself first, with savings that come straight from your income each month.
- Save regularly directly from your salary, benefits or Direct Debit
- Dedicated Christmas and Holiday Savings accounts
- Your savings help others borrow affordably
- Possibility of earning a dividend when the credit union does well
Ways to save with us
Loans for big plans (and little emergencies)
There’s more to a credit union loan than you might think.

As well as being a low-cost alternative to expensive short-term borrowing, our loan rates often beat the big banks, credit cards and high street lenders as well.
- Borrow between £100-£25k for any purpose
- Affordable monthly repayments
- Decisions made by people, not computers
- No risk to your credit history if we don't say 'yes'
Apply for a loan
Yes! We do mortgages too.
Whether you’re looking to buy your first place or remortgage, a credit unon mortgage could be the answer. Check out our low rates, in-house team of mortgage advisors, and the people-first approach you’d expect from us.
- Borrow up to £450,000
- Low rates from 3.64% (variable)
- No arrangement fees
- Free, no-obligation mortgage advice
- Support for Forces Help to Buy and NHS bank hours
Get a mortgage
Get a current account that shares your values
Put your money where your values are with a credit union current account. It comes with a Visa^® Debit card, online banking and Google/Apple Pay.
- Full bank account with account number and sort code
- Contactless Visa® Debit card with paid accounts
- Online banking and mobile app
- Now with Google Pay and Apple Pay
Open a current account

About London Mutual Credit Union

We’re London’s largest community credit union, helping thousands of people make the most of their money.

Member-owned – a financial co-operative run for the benefit of our 42,397 members, not for profit.
Community roots – serving our communities in South London and beyond for over 40 years
Workplace partnerships – saving and borrowing direct from pay with the NHS, armed forces & public sector
Safe & regulated – Authorised by the FCA, with members’ savings protected up to £120,000.

About London Mutual What is a credit union?

Borrow this Christmas for less than a credit card or overdraft

We get it: "taking out a loan" feels like a big deal compared to quietly putting it on a credit card to sort out in January. But with credit cards now averaging 24.65%* APR and overdrafts hitting almost 40%, you could end up paying more than you need to.

Christmas Loans

Example: £3,200.00 borrowed over 18 months at 13.68% APR. Total repayable: £3,536.37. Warning: Late repayment can cause you serious money problems. For help, go to moneyhelper.org.uk

Working with 30+ local employers
to enhance colleague financial wellbeing

Find my employer Information for employers

How it works

Join online or apply for a loan
Anyone who meets our membership criteria can join and start saving and borrowing with us.
Pay money regularly into your account
Join online and start saving straight away, or do it at the same time as you apply for a loan.
Watch your savings grow
We make it easy to pay in regularly – directly from your salary, benefits or Direct Debit. Loan repayments are deducted, and the rest goes into your savings.
Manage your money
Join online and start saving straight away, or do it at the same time as you apply for a loan.

What do people say about us?

Buy or re-mortgage for as little as 3.64% -our lowest-ever rate

Buy your first home or re-mortgage with the people-first approach you’d expect from your local credit union.

Mortgage options

Rates from 3.64% (variable) discounted for 2 or 3 years before reverting to standard variable rate (currently 6.89%). All Mortgages are subject to our Lending Policy and Terms & Conditions. Think carefully before securing other debts against your home. Your home may be repossessed if you do not keep up repayments on your mortgage.