Make things happen with our fair and affordable loans
Whether it’s money for a new car or kitchen, a consolidation loan to get on top of your existing debts, or dealing with life’s little emergencies, we’re all about helping our members to access fair, affordable credit when they need it.
Our range of award winning loan products come with with low interest rates that are suitable for everyone. As an ethical and fair organisation, we believe that borrowing money should be a carefully thought through process, and the way we lend is built around your ability to repay.
Full marks for fair banking
Our CUOK payday loans have been awarded 5/5 stars by the Fair Banking Foundation. The Fair Banking Mark is your independent guarantee that our loans are built on fairness and transparency, and have been designed with your financial well-being in mind.
The London Mutual difference
No hidden fees
Borrow with confidence. No ‘arrangement fees’, hidden costs or penalties for early repayment, just the agreed monthly payments including interest, making it easy to plan your finances.
As a not-for-profit credit union, our interest rates are designed to reflect the true cost of providing your loan, and to be fair as well as competitive.
Fair applications process
Your application will be considered by a real person, not a computer. We’ll consider your individual circumstances, such as your ability to repay and any existing financial commitments.
Responsible (and award-winning) lending
Our products have been accredited by the Fair Banking Foundation, which recognises that they are designed to boost your financial well-being—not just our bottom line.
Our best rates
Fairness in lending, whatever your circumstances
Note: LMCU 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. All fees, pricing information 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.
Good to know
Am I eligible to apply for a loan?
Current members can apply for a loan at any time. Assuming you are eligible, it is also possible to join and become a member of the credit union at the same time as applying for a loan.
It’s also worth bearing in mind that occasionally products and promotions will only be open to those who have been a member for a certain period of time, have a certain amount saved with us, or who are signed up for payroll deduction.
Is my application likely to be approved?
Your chances of approval will depend on the type of loan you have applied for and your circumstances.
All loan decisions are taken based on our loan policy and made by a person, not a computer, and so we will always try to take your individual situation into account. In cases where we can’t approve the full amount applied for, we may be able to offer you a lesser amount, or an alternative rate.
How do I know if my loan has been processed?
What happens if I'm struggling to repay?
If you are experiencing difficulties with repaying your loan, please talk to us as early on as possible. Together we will work together to find a solution.
To enable us to help you, it’s really important that you are upfront and honest about your circumstances, and stay in touch with us. Being open will give us the best possible chance of helping you to maintain a good credit score, which will enable us and other lenders to lend to you in future.
You can find out more about how we can help if you’re struggling with debt on this page.