Employee benefits that support financial well‑being
Partner with London Mutual to help your colleagues build savings as they earn
Our salary deduction scheme is an employee benefit which enables staff to build their savings and to borrow at low rates which reflect the reduced risk of repayment directly from salary.
The scheme is easy to set up and cost-free to run. If you would like to know more about how we can work together to make our services available to your staff, we’d love to talk.
Provided at no cost to the employer
Over 35 years' experience
Fully regulated by the FCA, PRA and member of FSCS
4.7 Rating from our members on Trustpilot
Trusted by 25+ organisations, including NHS and the MOD
What makes us diffrerent
A credit union
We are a community bank based in London, founded in 1982. We are owned by our members and regulated by the FCA and PRA.
In it for the right reasons
Our mission is to support our members, not to make a profit. So you can trust us to act in your colleagues’ best interests.
Salary deduction is a proven way of supporting employees’ financial wellbeing, making it easy for them to get into the habit of regularly saving.
Every penny we make is paid back to our members as a dividend, reinvested in our services, or supports our financial inclusion and education work.
Who we work with
London Mutual Credit Union was the first provider of salary deduction in the UK, back in 1982. Today, we work with over 25 major employers, including leading London NHS Trusts, local authorities, and the UK armed forces nationwide.
Why financial well-being matters
Economic conditions over the past decade mean that more of us than ever are feeling the financial strain. For employers, the challenge is clear. There is a clear link between financial well-being and employee productivity and retention.
of employees 'regularly' lose sleep over money worries.
of working age adults have no savings at all.
of employees 'somewhat' or 'very' stressed by their financial situation.
of younger employees say the cost of living affects their mental health.
How it works
We have over 35 years of experience in working with employers to offer a salary deduction service to deduction to their staff.
We’re committed to making it straightforward to set up and easy to run, with minimal work or additional costs for your team or your payroll provider.
If you are interested in how we can work together, or would like to know more, please get in touch.
Head of Business Development
4 Heaton Rd,
Peckham, SE15 3TH
020 7358 5702