We are pleased to inform that on Thursday 25th July 2013, London Mutual Credit Union (LMCU) has opened its 5th branch office in Camden. The opening ceremony was attended by number of guests. Our guest of honor was the Leader of the London Borough of Camden, Councillor Sarah Hayward.
Speaking at the opening Councillor Sarah Hayward, Leader of Camden Council said: “In times where many families are really struggling financially, the Council wants to provide local residents with access to affordable credit, often when other lenders have turned them down.” “This credit often provides for one off expenses like replacing a broken washing machine and it helps people who have nowhere else to turn other than to legal or illegal loan sharks who charge exorbitant interest and often plunge people in to inescapable debt.”
LMCU which operates in Southwark, Lambeth, and Westminster and now Camden is the largest community Credit Union in London serving over 19,000 members. Credit Unions are not for profit co-operatives providing alternative financial services to the communities they serve.
Councillor Hayward continued: “Credit Unions, not only provide affordable credit, they keep money in the local economy and help everyone in the community they serve. I’m delighted LMCU have expanded their service to the people of this borough.
Lakshman Chandrasekera, Chief executive, Camden’s LMCU branch, said: “We are delighted to be working with Camden Council to provide financial services to the residents in Camden. We have a range of products and services available for everyone and very keen to extend our branch network in Camden in years to come.”
Among other attendees were the Directors of the LMCU Heather Crawford (President) Louis McLeod (Treasurer) and Chris Gonde (Director), Fiona Twycross (London Assembly Member) Derik Buckland (ABCUL Board Member), Cllr Mike Katz and Cllr John Bryant of Camden Council and number of senior managers of the Camden Council and other guests.