How it works
With a single predictable monthly repayment and repayments straight from your salary, using your Commodo card is hassle-free.
1. Sign up for early access
We’re still a few months away from launch, so you’ll receive an invite once things are ready.
We’ll occasionally ask for your ideas and feedback so we can continue to improve.
2. Apply and set up
Before we can issue you your card, we’ll ask you to complete a loan application .
The form will also help you set up payments straight from your salary.
3. Spend using your card
Use your Commodo card anywhere a MasterCard debit card is accepted.
ATM withdrawals and debit card transactions are included.
4. Predictable payments
The same amount (calculated as 1/18th of your card limit) comes straight out of your pay each month.
If you pay in more than you’ve spent, the money is yours to spend, or you can transfer it into your savings. We won’t charge interest.
5. Take a holiday
For up to 30 days per year, overseas payments and cash withdrawals are on us.
Once a year, you can also arrange a one-month holiday where your payment will be paused.
6. Auto-land at any time
If your plans change or you want to get back on top of things, you can convert your card to a regular loan.
Repayments will continue, with the balance paying itself off in 18 months or less.
Building a better bank
The Commodo card is provided by London Mutual Credit Union, a not-for-profit community bank which is owned by our customers.
We were founded by employees of Southwark Council in 1982. Since then, we’ve had one mission: serving our member communities by providing fair and ethical financial services that are relevant to their needs.
Our branch on Rye Lane in Peckham, which also serves as our HQ. Look out for our other branches on Walworth Road, and in Acre Lane in Brixton.
If you’d like to join the waiting list for a Commodo card, simply leave your details here.
We’re still a month or two away from being able to launch, so we’ll send you an application link as soon as things are ready.