Service update:  17-08-2020 at 16:20:  We are currently experiencing temporary service disruption to online banking and our mobile app. Please visit our Service Status page for the latest updates.

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Member support
Lost or stolen card

0330 088 2747

Lines Open 24/7
Please have your account number ready

Activate a new card

0330 088 1728

09:00-6:00pm Mon-Fri
09:00-1:00pm Sat

Your latest balance

Text ‘bal’ to 80011

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Struggling to repay?
Peckham Branch (Head Office)

Mon-Fri – 9:30-4:30
Saturday – Closed

4 Heaton Rd,
London SE15 3TH

Brixton Branch

Mon-Fri – 9:30-4:30
Saturday – Closed

10 Acre Lane
London SW2 5SG

Walworth Road Branch

Mon-Fri – 9:30-4:30
Saturday – Closed

177 Walworth Rd
London SE17 1RW

Peckham branch

Address4 Heaton Road, Peckham, London SE15 3TH
Opening hoursMonday to Friday – 9.30am to 4.30pm

Brixton branch

Address10 Acre Lane, London SW2 5SG
Opening hoursMonday to Friday – 9.30am to 4.30pm

Walworth Road branch

Address177 Walworth Road, London SE17 1RW
Opening hoursMonday to Friday – 9.30am to 4.30pm; Saturday – 9.30am to 1.30pm

Get In Touch

Have a General Question? Send Us an Email

Frequently asked questions

What is a credit union?

Credit unions are not-for-profit, member-owned, financial co-operatives that exist for the benefit of a group of members who share a common bond, such as where they work or live.

Our mission is to provide our members with access to reasonably priced financial services and encourage the development of good financial habits such as saving and responsible borrowing.

What's the difference between a credit union and a bank?

The biggest difference between credit unions and banks is the member’s ownership or involvement in the institution. Credit unions are not-for-profit organisations owned by their customers, who are also its members.

As a member and owner, you are given the opportunity to gain greater control over your finances. Most banks are for-profit corporations, with profits paid to their shareholders only.

What does it mean to be a member of the credit union?

As a member of the credit union, you own part of the credit union through your shares. The members own, control, and administer the Society (the credit union). Because you are a member and partial owner, the credit union works for you.

Therefore, as a member of the credit union you will have access to ethical and affordable loans and more financial advice as to which loan product is best for you.

So what does it mean to have savings in the credit union?

This means that not only do you have more control over your money, but also, as a shareholder, you will receive a dividend on your Membership Account whenever the credit union makes a surplus (a profit).

What makes credit unions ethical?

Credit unions work to offer fair, competitive financial services to individuals from all walks of life, regardless of their social status and economic background.

We also believe that borrowing money should be a carefully thought through process, and the way we lend is built around your ability to repay.

Our dedicated employees want to work with you personally to create a repayment plan that best fits your situation.

Who can apply for a loan?

Only the members. As long as you are a member, you can apply via online or complete the paper application at one of our four branch offices.

What is a current account?

A current account is a bank account that allows you to access a range of banking services, such as receiving money (like your salary, pension or benefits payments), paying bills, and setting up direct debits and standing orders to make regular payments.

Our current account can be very useful for anyone looking for an easier, more affordable way to spend and access their funds. Opening a current account provides members with a MasterCard Debit card and allows access to their accounts from over 70,000 Link ATMs across the UK and our MasterCard is widely accepted throughout the world wherever you see the MasterCard sign.

Is my money secure with you?

London Mutual Credit Union, like banks and building societies, is regulated by the Financial Conduct Authority (FCA) and authorised by the Prudential Regulation Authority (PRA). Savers’ deposits are protected by the same Financial Services Compensation Scheme that covers banks and building societies.

An eligible depositor is entitled to claim up to £85,000.

How are you able to offer such affordable rates?

Credit unions do not have shareholders to pay, as our members are our shareholders. By law, the maximum interest rate that a credit union can charge its members for a loan is 3% per month or 42.6% APR.

We are also very proud of our affordable CUOK payday loan service. The interest rate on a CUOK loan is much lower than that charged on typical payday loans, so taking out a CUOK loan saves you money and makes good financial sense.

Need a loan? Borrow with us at affordable ratesand no nasty surprises.

If you need that extra bit of money for a new car, holiday, or any unexpected expense, our range of award‑winning loan products are designed to fit your needs, at affordable rates.

Make things happen with a loan from London Mutual

Apply for a credit union loan today

Competitive rates, with no hidden fees