Your local choice for convenient savings and affordable loans.

We were founded by employees of Southwark Council in 1982. Since then, we’ve had one mission: serving our member communities by providing fair and ethical financial services.

Today, we help thousands of people in our community to borrow at affordable rates. Our partnerships with dozens of local employers including schools and the NHS make it easy to repay and convenient to save by deducting it straight from your salary.

How it works

Fair finance at the heart of Southwark’s community

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Borrow at competitive rates

Pay money into your savings account at any time on our website with a debit card.

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Repay through your wages

Through our partnership with dozens of local employers, you can arrange to have a regular amount deducted from your salary or pension and use it to repay your loan or to build your savings.

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Grow with us

To us you’re a member, not just a customer. As a credit union, we’re all about working with you over the long-haul to get your finances into shape and to help you achieve your goals.

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Fully Licensed and Protected

Eligible customer deposits with London Mutual Credit Union are protected up to a total of £85,000 by the Financial Services Compensation Scheme, the UK's deposit protection scheme. Any deposits that customers hold above the £85,000 limit are not covered.

Borrow and save straight from your pay.

Through our payroll schemes, you can arrange to have a portion of your salary deducted each month and put it straight into your savings or towards the cost of your loan.

Eligible employers

  • Southwark Council
  • Guy’s & St Thomas NHS Foundation Trust
  • London Ambulance Service NHS Trust
  • Keyworth Primary School
  • Viapath

How we’re different

Why bank with a credit union?

Owned by the community

As a co-op, we are run for our members , not shareholders. That means we put your financial wellbeing first, and do right by you, not just our bottom line.

The best rates

There are no hidden charges or early repayment fees. We can save you hundreds of pounds compared to credit cards and rip-off payday lenders.

Keeping banking local

At a time when many large banks are shutting their doors, our walk-in branches offer services and advice in Peckham, Walworth Road and Brixton.

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