Affordable Loans & Simple Savings for Southwark Residents

As a credit union, we’re here for everyone, including those on low incomes, benefits and unemployed.

Example: £600 borrowed over 9 months. 42.6% APR. Total Repayable £693.54

Here to help you save, there if you need to borrow

Since 1982 we’ve been helping local people to build savings, as well as being there for them in times when they need to borrow.

  • Open to anyone who lives or works in Southwark
  • Borrow up to £600, even if you’re unemployed or on a low income
  • Larger loans of up to £25,000 for those who are employed
  • Authorised by the Financial Conduct Authority (FCA)
  • Build savings while you repay
All Loans are subject to affordability and our Lending Policy and Terms & Conditions.
Applicants must be 18 years or older.

Calculate Your Loan

See all borrowing options.

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Monthly repayment:
  • Borrowing:
  • Over:  Months
  • Representative:  APR
  • Total cost of this loan:
  • Total repayable:
Apply for this loan

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.

Other Borrowing Options

Personal Loans

Borrow from £100 to £15,000 for any purpose with fixed repayments and a clear end date (from 7.4% APR)

Get Started

Child Benefit Scheme

Get a £600 revolving credit limit when you pay child benefit into your credit union account.

Get Started

Booster Loan

Borrow between £100 – £1,200  at 42.6% APR, including if you are unemployed or on a low income.

Get Started

Heads up—we could save you serious money on interest…

Based on £600 repaid monthly over 9 months

Lender Rate Total Interest
London Mutual Credit Union 42.6% APR £111.00
Loans2Go 700.00% APR £2,601.00
Morses Club 498.78% APR £1,747.00
Cash Converters (Pawnbroker) 155.80% APR £451.00

Why Choose Your Credit Union

Great Rates

Starting at just 4.5% APR, our rates are some of the best around. There are no ‘arrangement fees’ or other hidden charges.

Apply Risk-Free

We carry out a soft credit search, which means that there is no footprint or risk of damaging your credit file if you aren’t approved.

Personalised Decisions

All loan applications are considered by our loans team, not just a computer, so we can take everything into account.

Fuly Regulated

We are regulated by the Financial Conduct Authority (FCA). This makes us a much safer option than loan sharks and other types of illegal lenders.