News & Blog

Get the latest news, product and service announcements from London Mutual, along with our Money Gym financial education blogs.

A-Z of Financial Jargon

A-Z of Financial Jargon

The world of money comes with it’s very own dictionary of financial jargon. Read our A-Z of some words and phrases you should look out for.

The Link Between Money and Mental Health

The Link Between Money and Mental Health

There is a link between money and mental health. It is important to understand how to take control of your finances, and where to seek help should you need it.

Understanding IVAs

Understanding IVAs

Individual Voluntary Arrangements (IVAs) might seem like a straight-forward solution to repaying debt, but it is important that you know the consequences before getting tied down.

Back to School: where to get financial help

Back to School: where to get financial help

If you are starting to feel stressed or are a bit worried about the costs of back to school, we have put together some organizations and ideas that might be useful to you…

Family Saver Loans: Get the flexibility you need as a family

Family Saver Loans: Get the flexibility you need as a family

What are child benefit loans and family saver loans? Child benefit loans with London Mutual Credit Union allow you to borrow up to £600 towards one-off costs when you pay your child benefit into a membership account. As we want to help our members grow their finances,...

Family Saver Loans: Get the flexibility you need as a family

Family Saver Loans: Get the flexibility you need as a family

What are child benefit loans and family saver loans? Child benefit loans with London Mutual Credit Union allow you to borrow up to £600 towards one-off costs when you pay your child benefit into a membership account. As we want to help our members grow their finances,...

COVID-19 scams update

COVID-19 scams update

As we have entered another national lockdown and the vaccine roll-out begins we have heard of some new COVID-19 scams looking to take advantage of the public via text, calls and email. Here are a few recent scams to look out for: NHS COVID-19 vaccine text scam There...

How consolidation loans can transform your finances in 2021

How consolidation loans can transform your finances in 2021

What is a consolidation loan? A consolidation loan is a way to bring all your current debts, including credit cards, overdrafts and existing loans together, into one loan, and one monthly repayment. They could help you to pay off credit cards and other debts sooner....

How to achieve your financial goals in 2021

How to achieve your financial goals in 2021

It’s that strange time in between Christmas and New Year, time to reflect on the year that no one expected and start thinking about next year. You may also have a little bit of time to dedicate to thinking about your finances. We wanted to share a guide to getting a...

5 financially savvy home improvements for renters

5 financially savvy home improvements for renters

As we head into another lock down you might find yourself with some time for home improvements. Some home improvements can be cost effective in the long run, by reducing your monthly costs. Check out our 5 financially savvy home improvements you can make even if you...

Plan ahead this Christmas with our Family Saver Loans

Plan ahead this Christmas with our Family Saver Loans

It’s been an uncertain year and it might seem early to start thinking about Christmas. But have no doubt, the kids are already. Planning ahead could really help you manage your finances this year, especially if you have children. Kids might have high expectations and...

Winter is coming

Winter is coming

It’s official: winter is just around the corner.  Whether you're kitting out the family with warm gear, replacing the boiler, or sorting out the sofa so there’s space for everyone, keeping cosy can add up. Not to mention Christmas is fast approaching. It’s been a...

Ten More Covid Scams to Watch Out For

Ten More Covid Scams to Watch Out For

Even though many of the lockdown measures are starting to ease, scammers are continuing to take advantage of people’s anxieties and concerns. Here is what to look out for.

Protecting yourself from coronavirus scams

Protecting yourself from coronavirus scams

Criminals and fraudsters are sadly taking advantage of the current disruption. Here are some of the current scams we’re aware of, and ways to avoid them.

Invest in a good night’s sleep

Invest in a good night’s sleep

It’s easy to think of budgeting as a chore. Instead, think of it as a way of bringing some control into to your life.

Why it makes sense to payroll

Why it makes sense to payroll

At London Mutual, you can have loan repayments or savings taken directly from your salary. Here’s how it works, and why it’s a great reason to join us.

Borrowing with confidence

Borrowing with confidence

Like any tool, borrowing can be useful, but it needs to be handled with care. Knowing how and when to borrow, how to spot signs of trouble and how to avoid them, are all crucial steps to borrowing with confidence.

All about GDPR

You may have heard talk on the news about GDPR – General Data Protection Regulation – here is a short guide to explain how it could affect you It’s the biggest change to UK data privacy law in 20 years Thanks to technological advances, the amount of personal data...

Camden branch closure

Camden Branch It is with great regret that we have come to the decision to close our branch in Camden at 347 Royal College Street with effect from 22nd June 2018. The decline in the number of members using the branch, increased costs, and the development of our online...

Armed Forces Covenant  Bronze Award

Armed Forces Covenant Bronze Award

LMCU is honoured to receive the Employer Recognition Scheme Bronze award from the Armed Forces Covenant and are committed to work with all the MOD personnel. The Armed Forces Covenant is a promise from the nation that those who serve or have served, and their...

New branch in Southwark

New branch in Southwark

Tom Watson MP, Deputy Leader of the Labour Party, was the guest of honour at the opening of a new credit union branch in Walworth Road, Southwark, on Thursday 3rd March. The new London Mutual Credit Union branch is equipped with its own ATM service, five spacious...

Launch of Credit Union Services for the British Armed Forces

15th October 2015 marks the launch of the provision of Credit Union Services for the British Armed Forces by the London Mutual Credit Union. London Mutual Credit Union is one of three credit unions in Britain selected by the Ministry of Defence to help Armed Forces...

Visitors from Kenyan Credit Unions

LMCU welcomed a delegation of 34 credit union professionals from Kenya. As at December 2014, Kenya has got 4,965 credit unions with 5,103,231. Over 20% of the Kenyan population are now a member of a credit union.

Southwark Smart Savers scheme

We are happy to share some more lovely news. A new initiative by the Southwark Council gives every 11 year old child who lives in Southwark a voucher worth £10 to open a savings account at London Mutual Credit Union. We believe that this monetary incentive is being...

How to ace your holiday planning

How to ace your holiday planning

before you throw the suntan lotion into a bag and head for the beach, check out our top tips for making your money go further while you’re away.

A word about your memorable word

When we introduced the new banking system at the end of 2016, every account was allocated a memorable word. You will need your memorable word if you phone the Help Desk and you may be asked to confirm 2 or 3 digits of it when you come to a branch for any transactions...

All about GDPR

You may have heard talk on the news about GDPR – General Data Protection Regulation – here is a short guide to explain how it could affect you It’s the biggest change to UK data privacy law in 20 years Thanks to technological advances, the amount of personal data...

Credit Unions Around the World

Credit Unions Around the World

The 2018 World Cup in Russia is well under way. People around the world are hoping that their national team will lift the most prestigious prize in competitive sports, and traits such as respect and community are on full display. Likewise, Credit Unions concepts are also acknowledged worldwide, and in 2018 we can see that […]

Top 3 differences between Credit Unions and banks

Top 3 differences between Credit Unions and banks

The financial services industry dominates advertising and news coverage, which is to be expected as finances are an everyday concern for people. There are thousands of different companies competing to help manage people’s finances, and it is not always easy to make comparisons in order to see what best suits their needs at any time. […]

Don’t get caught out by £1 Deadline!

Don’t get caught out by £1 Deadline!

In the UK, we love to keep things interesting. By the end of 2020 we will see the biggest period of currency transition in decades – from paper to plastic notes and from round to twelve sided £1 coins. New Money The new pound coin was deemed legal tender on the 28th March 2017. Now […]

New compensation limits

The FSCS deposit protection limit is changing from 1 January 2016 to £75,000. Deposits currently eligible for £85,000 compensation will remain protected up until 31 December 2015 to allow customers to reduce their balances if necessary. From 1 January 2016 the new...