GamCare has featured our work in a new toolkit designed to help businesses support customers who may be struggling with gambling-related financial difficulties. The toolkit showcases best practices from across the financial services sector, and we’re pleased that our community-focused approach has been highlighted as an example worth following.
Why this recognition matters
Gambling problems affect people from all backgrounds across London, and the financial impact can be devastating. We regularly see members who’ve lost thousands of pounds in just a few hours through mobile gambling apps, or who find themselves borrowing money to cover basic expenses after gambling losses.
Around 70% of callers to GamCare’s National Gambling Helpline report gambling debt or financial hardship alongside their gambling concerns. This shows how closely linked gambling problems and financial difficulties really are – and why financial institutions like us have a role to play in providing appropriate support.
The recognition from GamCare validates our belief that responsible lending means more than just checking credit scores. It means understanding when gambling might be affecting someone’s finances and responding with support rather than judgment.
Our approach to gambling-related financial problems
We’ve developed our approach after seeing gambling issues increase among our members across Southwark, Lambeth, Westminster, and Camden. Our response focuses on early identification and appropriate support:
- Sensitive communication when we can’t approve loans: If we identify gambling-related financial risks during our application process, we explain our decision sensitively and provide information about specialist support services. The GamCare toolkit specifically cites this approach as an example of positive intervention.
- Proactive monitoring and support: We monitor current account and debit card transactions, which allows us to sensitively reach out when we notice that a large proportion of someone’s income is being spent on gambling. This early intervention approach helps us connect members with appropriate support before problems escalate.
- Connection to specialist support: We work with GamCare and other organisations to ensure members can access the right expertise when they need it. We’re not gambling counsellors, but we can connect people with those who are.
Understanding gambling’s financial impact
Gambling problems often start small but can escalate quickly, particularly with the easy access provided by mobile apps and online platforms. What begins as occasional entertainment can become a serious threat to household budgets, affecting not just the person gambling but their entire family.
The financial pressures of recent years have made gambling problems more common. When people are struggling with bills or feeling stressed about money, gambling can seem like a potential solution – but it usually makes financial difficulties worse rather than better.
As a community credit union, we see firsthand how gambling problems can devastate household finances. Someone might have steady income and good intentions, but find themselves unable to manage basic expenses because gambling has consumed money needed for rent, food, or other essentials.
Supporting recovery and financial stability
Our role isn’t to provide gambling counselling – that’s what specialist services like GamCare do best. Instead, we focus on supporting financial recovery and helping people rebuild stability after gambling problems.
This might mean helping someone consolidate debts created by gambling into manageable monthly payments, or working with them to build emergency savings that reduce the temptation to gamble during financial stress. Our manual underwriting approach allows us to consider individual circumstances and recovery progress rather than simply excluding everyone with past gambling problems.
Ben West, our Head of Business Development, explains our approach:
“As a credit union, the financial well-being of our members is our purpose. We therefore welcome GamCare’s toolkit, which provides much-needed advice on early identification and support to those at risk of gambling-related harms. Our team see first-hand the debt and hardship that can result when individuals gamble beyond their means.”
Industry leadership in responsible lending
Being featured in GamCare’s national toolkit reflects our commitment to responsible lending that goes beyond regulatory requirements. While many lenders focus purely on profitability, we’re demonstrating that financial institutions can play a positive role in addressing gambling-related harm.
The toolkit draws together best practices from banking, debt advice, and gambling treatment sectors, as well as experiences from people who’ve been affected by gambling problems. It provides guidance on training staff, developing referral pathways, and communicating sensitively with customers who may be struggling.
Our inclusion shows that community-focused financial institutions can lead the way in developing more supportive approaches to customers facing difficult circumstances.
Getting help with gambling-related financial problems
If gambling is affecting your finances or those of someone you care about, support is available. GamCare’s National Gambling Helpline operates 24 hours a day and provides free, confidential support for anyone affected by gambling problems.
The charity also offers online chat, email support, and face-to-face counselling in some areas. Their website at gamcare.org.uk provides information about self-exclusion tools, blocking software, and other practical resources for people trying to regain control over their gambling.
At London Mutual Credit Union, we’re here to support our members’ broader financial wellbeing. If gambling has affected your finances and you’re working toward recovery, we can discuss how our services might help you rebuild financial stability as part of your overall recovery plan.
