Coronavirus update: We are working hard to maintain service levels during current COVID-19 restrictions, but some services may occasionally be delayed or disrupted. For more information, including current call waiting and loan processing times, check the service status page.

Thinking of Christmas?

Plan ahead and pay less interest on your borrowing this Christmas

Avoid credit cards and online lenders this Christmas. Save hundreds of pounds with a Christmas loan from your local credit union, with the options to repay from your salary, child benefit or your membership account. Apply online today.


Apply in branch or online


All employment statuses welcome


New members welcome

Spread the cost of Christmas

Christmas is always an expensive time of year. In the past we may have had parties and evenings out to think about, but this year things are looking a little different. 

If you’re looking to borrow a bit extra, then get ahead of the game with a Christmas Loan from London Mutual Credit Union. We’re usually much cheaper than expensive credit cards and overdrafts, saving you hundreds of pounds in interest.

Check out our loan calculator to see how much you could borrow:

Christmas Shopping

Ways to borrow

Payroll deduction

For NHS or local authority employees, we can even arrange loan repayments directly from your salary.

Child benefit

You can also borrow from your Child Benefit when you pay it directly into a Credit Union account.

Coronavirus update: We are working hard to maintain service levels during current COVID-19 restrictions, but some services may occasionally be delayed or disrupted. For more information, including current call waiting and loan processing times, check the service status page.

Apply for a Christmas loan

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Who can apply?

Current members can apply for a loan at any time. Assuming you live within our common bond and are eligible to join, it is also possible to become a member at the same time as you apply for a loan.

Certain products and promotions are only 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.

The application process

Our online application form is straightforward, and should take about 15 minutes to complete. Before you begin, it's worth having your national insurance number handy, as well as a photo or scan of your payslip and bank statements. You may be asked to provide these as part of the process.

Once your application has been received, it will be looked at by a member of our loans team, who will use the information you've provided to decide whether or not we can approve your application. This can take 7-10 days. We'll update you by SMS and let you know the outcome when this step is complete.

If your application is approved, you'll be asked to sign a loan agreement setting out the terms of your loan, including details such as the amount to be borrowed and the repayment period.

Once the loan agreement is signed, we'll transfer the funds into your account within 2-3 working days. Loan repayments will then take place on the date and via the method agreed.

Will I be accepted?

We will make a decision based on how much you have applied for, and our assessment of your ability to repay. We'll do this by at your income, expenditure and credit history. When you apply, we may ask you to provide bank statements and payslips as evidence of this.

All loan decisions are made by a person, not a computer, and so we will always try to take the whole picture into account. In cases where we can’t approve the full amount, we may be able to offer you a lesser amount, or an alternative rate.

How to apply

You can apply at any time using our online application process. Simply use the calculator on this page to decide how much you'd like to borrow and over what period of time. Then, click 'apply for this loan' to begin the process.

You can also apply in person in any of our branches - just be sure to bring valid ID and proof of address, payslips and bank statements with you.

Not ready to apply? Get a reminder emailed to you, with a handy link to apply.

Your Loan

Monthly repayment:
  • APR:
  • Total repayable:
Apply for this loan

This is for illustrative purposes only. Actual figures will be based on your personal circumstance, credit reference information and your ability to repay. The amount and rate that we may offer you may differ based on our assessment of your personal circumstances. Applying for a loan may affect your future ability to take out credit.

Got a question?

If you’d like to know more about any of our loans, the application process, or any other aspect of our loans, our team are here to help. Just drop us an email.

Apply by 11 December

If we haven’t received your loan application by the end of the day on Friday 11 December, we may not be able to process and approve it in time for Christmas.

The Credit Union difference

No hidden fees

We believe in being upfront about what your loan will cost. No ‘arrangement fees’, hidden costs or penalties for early repayment, just the agreed monthly payments.

Low rates

We don’t have shareholders and are not-for-profit. This means our rates are usually better than credit cards, overdrafts and high-cost online lenders.

Build savings as you borrow

Build savings by making an additional contribution of £5 or £10 on top of your monthly repayments, which will be available once your loan is fully paid off.

Personalised service

Your loan application will be looked at by our expert team, not a computer. This can take a few days, but it allows us to take everything into account.

Flexible decisons

You are more than a credit score. We will consider your application and take a range of factors into account, even if you are on a low income or your credit history isn’t perfect.

Repayments from your salary

If you work with one of our employer partners, we will arrange for repayments to be automatically deducted from your salary each month.

About London Mutual Credit Union Loans

What are Christmas loans used for?

We know that for many of our members, Christmas can be an expensive time of year. When money is tight, it can feel like there is no other option but to turn to expensive credit cards, overdrafts or even online lenders.

We think our members should be able to enjoy the festive season without worrying about money worries or falling into problems with debt.

That’s why, this time of year, we work to make sure that if members need to borrow a bit extra, they know they can do it with us. As a credit union, our rates are fair, and usually lower than other types of lenders. 

How much can I apply for?

The amount we can offer you will depend on your individual situation. We consider things such as as your income, employment and your spending habits to decide whether the repayments are affordable to you. Sometimes, if we can’t offer you the full amount, we will be able to suggest a lower amount instead.

The main thing to remember is that you are more likely to be accepted if you apply for what you need. You should choose a loan with repayments at a level that you can afford to repay.

What is the cut-off date for Christmas loans?

We know how important this time of year is. To make sure we have time to look at your application and to get the money to you in time for Christmas, please make sure you have applied before midnight on the 11th December.

You can apply online or in branch.

How do I apply?

To apply, you have the option of applying online or in person at one of our branches. The first step is our loan calculator on this page.

Applying for a Christmas loan is just like our other loans – simply choose the type of loan that best fits your situation, and you’ll be able to choose the amount you need, and the amount of time you want to pay it back over. Then, click ‘apply’, and choose whether you’re a new or existing member. From that point, it’s the application form, which will take no more than 15 minutes to complete.

If you’re having problems with the application form, or need any more information about the application process, get in touch.