Building a digital credit union

At London Mutual, becoming fully digitally-enabled is a journey—and one we're determined to bring all our members with us on. We speak to program manager Leanne Phillips about how we're ensuring that digital isn't just for the digitally savvy.

Becoming digitally-enabled is a journey for us here at London Mutual. We’re determined to bring all our members along with us on it. Here’s program manager Leanne Phillips about how we’re ensuring that digital isn’t just for the digitally savvy.

Our mobile apps

“We now have mobile apps and our own online banking, says Leanne Phillips, program manager at the London Mutual Credit Union. “Members can have same day transfers.”

Using the LMCU mobile app, members can see their balance in real time. Members with current accounts get text messages every time they make a purchase, allowing them to watch what they spend.

Leanne has worked for LMCU for 13 years. She now works on making things easier for members to save money, and get access to loans. The idea started when Leanne worked in the loans department.

“There were a lot of applications that we could actually process immediately, but we were taking time go through manually. I thought: what can we do to make this process more automated?”

SMS services

We’ve designed the text message loans service to be so easy that members won’t go to payday loans companies. That’s because, Leanne explains, many members are still using them despite lower interest options at LMCU. “We don’t want them to go to those sorts of places and pay high interest loans,” says Leanne.

Revolving loans

LMCU also offers revolving loans. Members who have already taken out a loan with LMCU can take another without filling out any paperwork. “I have come across cases where some of the members didn’t know we offered revolving services,” says Leanne.

A couple of thousand members now use the revolving loans service, and it’s allowed the LMCU team to help people when they’ve needed it most. “We’ve had members who’ve called us around the end of day in a desperate situation. Usually we wouldn’t be able to do anything for them. But because now we have a lot of automation they’ve applied after we closed and they were able to get the loan within the next 24 hours.”

Ben West

As Head of Business Development, Ben is responsible for promoting our membership and services, improving customer experience, and developing our links with employers and community organisations

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