At London Mutual, we’re ambitious for our members and our communities, helping to fulfil their potential by getting into good financial shape.
Because of this, we’re also ambitious to innovate, so that we can meet a wider range of financial needs. We want to develop new products and services that are shaped by our member-owners, and designed around the things you tell us you want and need from your community bank.
Those ambitions received a significant boost earlier this year with a grant of £100,000 from Lloyds Banking Group Development Fund. Since 2014, the Fund has distributed £1m per year to credit unions to strengthen their financial position. And for us, the grant we’ve received ensures strong foundations that we can build on.
Lucky Chandrasekera, our CEO, said: “This funding has helped the London Mutual Credit Union to strengthen its capital base. The board of directors is extremely grateful for this valuable grant. This funding puts us in a strong position to progress with our future development plans.”
Credit Union Foundation awards in Parliament
London Mutual was one of several credit unions from across the UK to receive an award from the Fund. Award recipients were recognised at an event in Parliament on Tuesday, hosted by the APPG on Credit Unions and Lloyds Banking Group Credit Union Development Fund.
At the event we heard from Bim Afolami MP, Chair of the APPG on Credit Unions, John Glen MP, who as Economic Secretary to the Treasury has oversight of UK credit unions, Guy Opperman MP, Minister for Pensions & Financial Inclusion, and Lord Kennedy of Southwark, Chair of the Credit Union Foundation and a member of the Board here at London Mutual.
Guests including Bermondsey & Old Southwark MP Neil Coyle also took the opportunity to come and show their support. It was a great opportunity to update them on our work and plans.
For us, the award is a vote of confidence in our plans for the future. It also recognises the work that our staff team, board and members put in every day to help us succeed.