Here to help IPSA employees make their money go further
Independent Parliamentary Standards Authority has partnered with London Mutual Credit Union to make salary-deducted savings and loans available to all its employees as an optional employee benefit.
Automatically save a portion of your salary each month.
Access loans for unexpected expenses.
Manage repayments around your salary and schedule.
Use practical tools to track your finances and upcoming costs.
About London Mutual Credit Union
London Mutual Credit Union is a member-owned financial co-operative, serving Londoners since 1982. We exist to help people to save,
borrow, and build financial wellbeing in a safe and supportive way.
Member-owned, not for profit
Authorised and regulated by the PRA and FCA
Payroll saving & repayment available for IPSA staff
Thousands of members working in Government, National
What we offer
Fair, affordable borrowing for planned and unplanned expenses
- No early repayment fees
- Save as you repay
- Repayments directly from your IPSA salary.
Build a savings habit with automatic salary deduction
- Save as little as £10 a month
- Deducted each payday, so you don’t miss it.
- Access and withdraw your money via our mobile app
Buy or remortgage your home with competitive rates, in-house advice, and decisions made by people, not computers.
- No arrangement fees
- Free no-obligation mortgage advice
- Up to 80% LTV
How it works
Join online
It only takes a few minutes to become a member and to open your membership account
Choose how you'll use it
Choose how much to save each month, and, if you wish, apply for a loan at the same time
We'll set up payroll
We work with IPSA to arrange regular deductions from your salary
Save and repay - automatically
Your chosen amount comes straight from your pay each month and is automatically added to savings or used for loan repayments.
Explore the Money Gym
From managing bills to building better habits, the Money Gym is packed with practical tools and guidance to help you feel more in control of your money
Visit the Money Gym
Join the credit union for IPSA staff
Become a London Mutual member and build savings and borrow affordably directly from your Independent Parliamentary Standards Authority salary.
Become a memberMoney tips & ideas
Peckham credit union branch opened by Harriet Harman MP
Community-owned financial institution launches expanded services offering affordable alternatives to high-cost payday lenders
Duchess of Cornwall joins London Mutual Credit Union to support financial inclusion
Royal visit highlights practical help credit unions provide to local communities
London Assembly member Fiona Twycross joins London Mutual Credit Union
London Assembly member supports ethical financial services for London communities
Minister Lord Freud joins credit union to support low-income access to banking
David Freud, Minister for Welfare Reform, visits LMCU’s Peckham branch to promote accessible banking for low-income communities.
Labour Leader Ed Miliband visits LMCU, pledges support for credit unions
Labour leader Ed Miliband visits LMCU’s Peckham branch, highlighting the benefits of ethical banking
Money saving expert Martin Lewis backs credit union expansion to Parliament
Westminster staff gain access to ethical banking through new payroll partnership
London Mutual Credit Union earns Armed Forces Covenant Bronze award
We're proud to have received a Bronze Award from the Armed Forces Covenant for supporting military personnel and veterans.
Credit union deposit protection limit changes to £85,000
New Financial Services Compensation Scheme rules take effect from January 2016