Credit Union Membership

Become a Member of London Mutual Credit Union

As a credit union, we are here to help our members achieve their financial goals. So whether yours involve saving for the future, getting free of your debts, or borrowing at reasonable rates to make your plans happen sooner, we are here to help. 

Who Can Join?

As a credit union, there are certain restrictions on who can join us and become a member. This is known as our ‘common bond’. London Mutual Credit Union’s common bond covers much of Inner London. If you fit into any of the categories below, you can become a member.

Living or working in Southwark, Lambeth, Westminster or Camden

Working in an Education Occupation in Greater London

Working in a Health Occupation in Greater London

A Member of HM Armed Forces (anywhere in the UK)

Member Benefits

You need to be a member in order to borrow or save with us. You can join at the same time as you apply for a loan or savings account.

Regular savings

Set up a regular deduction from your salary or via direct debit into your Membership Account, and watch your savings grow.

Affordable borrowing

Trade in credit cards and overdrafts for low-cost rates as low as 4.5% APR. Borrow up to £25,000 (subject to T&Cs)


Get a free account for your direct debits. Pay in enough each payday to cover them all, and just like thatyour bills are sorted.

A say in how we are run

We are a co-op and owned by our members. Attend and vote at our AGM, and receive a dividend when the credit union does well.

Making a Difference

Being a credit union member is a win for you, and also a win for the local community. When you borrow with us, the interest you pay helps to support the credit union’s work in financial education, and in ensuring that everyone in our community has access to fair, affordable credit.

Financial Education in Schools

Through the ‘Smart Savers’ scheme, we work with local schools to run savings clubs run by the pupils, along with education around budgeting skills and other good money habits.

Financial inclusion

We work with local organisations to support access to affordable credit and banking for lower income, unemployed and vulnerable people, and to tackle issues like problem gambling.

Community banking

As other banks close their branches, more and more people rely on us for face-to-face banking. Our branches provide a friendly, knowledgeable and professional service to members from across our community and membership.