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.

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A not-for-profit credit union you can trust

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Salary deduction service at eligible NHS trusts

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Apply for a loan at the same time as you apply to join

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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

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Representative Example

Monthly repayment:
  • Borrowing:
  • Over:  Months
  • Representative:  APR
  • Total repayable:

All loans are subject to affordability checks and our Terms & Conditions. Loans are offered subject to status to members aged 18 or over. The rates displayed on this page are for illustrative purposes only, and the actual amount and interest payable will be indicated in the Loan Agreement provided when we offer you a loan.

Apply for this loan

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.