Christmas Loans

The deadline for this year’s Christmas loans is midnight on Tuesday 9 December 2025.
To give yourself the best chance of having your application approved and paid before Christmas, please apply as early as possible and before this date.

We’ll still do our best to process applications received after the deadline, but these may not be finalised until the New Year.

We offer Christmas loans tailored to your circumstances:

• If you’re employed, you can apply for loans from £100 up to £5,000, or even up to £15,000 depending on your income and credit history.
  These provide a practical, affordable, and responsible alternative to credit cards and overdrafts — ideal for covering the higher costs of the festive season.

• If you’re unemployed or retired, you can apply for a smaller Christmas loan of up to £600, or potentially up to £1,200 if you’ve borrowed with us before and kept up your repayments.

All loans are subject to affordability and credit checks to ensure repayments are comfortable and sustainable.

Yes, you may be able to top up your existing loan.
To qualify, you’ll need to have repaid at least one-third (⅓) of your current loan balance.

To check whether you’re eligible to apply again, simply text CANITOPUP to 60060 and we’ll send you an instant update.

Yes — our Christmas loans are open to unemployed and retired members as well as those in work.
We’ll take into account income from pensions, benefits, or other sources to ensure your loan remains affordable.

The borrowing limits are:

• Up to £600 for first-time borrowers

• Up to £1,200 for returning members with a good repayment record

If you’re working — either full-time or part-time — you can apply for larger Christmas loans of up to £5,000, or even £15,000, subject to affordability.

These loans are a responsible alternative to expensive credit cards, overdrafts, or buy-now-pay-later schemes, helping you spread the cost of Christmas and beyond with fixed, affordable repayments.

Many of our employed members also make repayments by salary deduction, making it simple to stay on top of your budget.

If you’re working — either full-time or part-time — you can apply for larger Christmas loans of up to £5,000, or even £15,000 in some cases.

These loans are a responsible alternative to expensive credit cards, overdrafts, or buy-now-pay-later schemes, helping you spread the cost of Christmas and beyond with fixed, affordable repayments.

Many of our employed members also make repayments by salary deduction, making it simple to stay on top of your budget.

Christmas loan applications are assessed within 7-10 working days, and often sooner if you provide all information requested at the same time as you apply.

Applying before the 9 November deadline gives us enough time to review and approve your loan so the money can reach you before the holidays.

Yes. To apply for any of our Christmas loans, you need to be a member of London Mutual Credit Union.

If you’re not yet a member, don’t worry — you can join and apply at the same time using our online form.

You’re still welcome to apply after 9 November, but please note that we can’t guarantee payment before Christmas.

Applications received after this date may be processed in the New Year.

A credit union Christmas loan is designed to help you borrow safely and affordably during the festive season.

We’re a local, not-for-profit lender — owned by our members, not shareholders — so every decision we make puts your financial wellbeing first.

You’ll benefit from:

• Fair, capped interest rates

• Responsible, community-based lending

• Regulated by the FCA and PRA

• Real people, not algorithms, making the decisions

A credit union Christmas loan is completely different from a payday loan.

With a payday lender, you often repay everything in one lump sum, usually at very high interest rates — sometimes over 1,000% APR. That can make it easy to fall behind and get trapped in a cycle of short-term borrowing.

With London Mutual Credit Union, your Christmas loan:

• Has a fixed, affordable interest rate
• Is repaid over several months in manageable instalments
• Has no hidden fees or early repayment charges
• Is designed to help you succeed financially, not keep you in debt

We’re regulated by the FCA and PRA, and we lend responsibly, always checking affordability before approval. That means your loan will be fair, transparent, and sustainable — not a quick fix that causes bigger problems later.

Borrowing for Christmas on a credit card or overdraft might seem convenient, but it can quickly become expensive — especially if you only make minimum payments or go over your limit.

A credit union Christmas loan offers a more practical and affordable alternative:

• Fixed repayments mean you know exactly what you’ll pay each month
• Lower, capped interest rates than most credit cards and overdrafts
• No variable rates or penalty fees if you repay early
• A clear end date for your loan, so you can start the New Year debt-free

Unlike banks, we’re a not-for-profit credit union, so every penny we make is reinvested to support members and our community.

Our goal is to help you manage the festive season confidently — without expensive borrowing that lingers long after Christmas.