Your NHS
credit union
Regular savings and low-cost loans for healthcare staff across Greater London
At London Mutual Credit Union, we’re building a better kind of bank—not for profit, and owned by our members. Membership is now open to anyone working in healthcare in Greater London. Borrow from just 4.5% APR.
A not-for-profit credit union you can trust
Salary deduction service at eligible NHS trusts
Apply for a loan at the same time as you apply to join
Borrow up to £25,000 from just 4.5% APR
Why borrow with a credit union?
No hidden fees
No ‘arrangement fees’, hidden costs or penalties for early repayment, just the agreed monthly payments including interest, making it easy to plan your finances.
Manual decisions
Your application will be considered by a real person, not a computer. We’ll consider your situation, such as your ability to repay and and existing commitments.
Low rates
Our rates reflect the true cost of providing your loan, and the level of risk. That means we’re usually cheaper than online lenders and high street loans and overdrafts.
Save as you borrow
We encourage you to pay a little extra on top of your repayments each month. This makes it easy to build up a pot of savings at the same time as you repay your loan.
Calculate my loan
Representative Example
- Borrowing:
- Over: Months
- Representative: APR
- Total repayable:
London Mutual Credit Union loans are subject to our lending criteria and are assessed on your ability to repay the loan as well as the terms and conditions of membership of London Mutual Credit Union. Fees, pricing and qualification information displayed on this page are for illustrative purposes only. Applying for a loan may affect your future ability to take out credit.
Who can join?
Membership of London Mutual Credit Union is now open to anyone working in a healthcare-related occupation across Greater London, regardless of your employer. Examples of eligible occupations include, but are not limited to:
- Nursing staff
- Medical doctors
- Medical and care managers
- Allied health professionals
- Paramedics and ambulance staff
- Dentistry
- Opthalmology
- Healthcare assistants
- Community health
- Chemist and Pharmaceutical staff
- Medical engineering
- GP Practice clinical staff
- Complementary medicine
- Midwifery
- X-ray operators
- Family planning
- Psychology
- Radiography
- Registrars
- Medical sciences
- Medical technical staff
Salary deduction partners
In addition, if you work for one of the four NHS Trusts below, you’ll be able to take part in our salary deduction scheme, with savings and loan repayments deducted straight from your pay.
How we’re different
A credit union
Salaryflex is provided by London Mutual Credit Union. We’re a community bank based in South London, founded in 1982 and owned by our members.
Working for you
Our mission is to help everyone in our community get into financial shape—not to make a profit. So you can trust us to act in your best interests.
Salary deduction
We work with your employer to deduct a regular amount from your pay, making it easy to build savings or make repayments without hassle or worry.
Doing good
Every penny we make is paid back to our members as a dividend, used to support our community work, or reinvested in our services.
What can I get a loan for?
Home improvements
Whether it’s a loan for new furniture, or a larger project such as new kitchen or conservatory, we can help.
Paying off debts
Pay off your credit card or overdraft sooner with a simple monthly repayment at a reduced interest rate, deducted from your salary.
Buying a car
Borrowing from a credit union can often be cheaper than purchasing via car finance, with a lower rate of APR and simple terms.
Short-term expenses
We encourage members to save for a rainy day, but that isn’t always possible. Don’t lose sleep—let us help you deal with the unexpected.
Building credit
Having a below average credit score can limit your options. We can help you re-establish good credit by starting small and building from there.
Getting married
A credit union loan can help to spread the cost of rings and preparing for a day you’ll both remember forever.
Application fees
If you’re looking to make the UK your permanent home, application fees shouldn’t be a barrier. In some cases, we may be able to help with a credit union loan that could enable you to settle sooner.
Other purposes
Got something in mind not listed here? In many cases, we’ll be able to help.