Here to help LBS employees make their money go further
Southwark Council 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 set aside part of your salary each month to grow your savings steadily.
Southwark Council employees can apply for loans to help cover essential household or personal expenses.
Scheduled repayment arrangements that fit your pay schedule
Use the Better-Off calculator to see your spending and plan for bills..
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 LBS staff
Thousands of members working in Government
What we offer
Fair, affordable borrowing for planned and unplanned expenses
- No early repayment fees
- Save as you repay
- Repayments directly from your LBS 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 LBS 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 Southwark Council staff
Become a London Mutual member and build savings and borrow affordably directly from your Southwark Council salary.
Become a memberMoney tips & ideas
From overdraft charges to saving for the future: Lucy’s story
After years of overdraft charges, Lucy Wright wanted a fresh start. With London Mutual Credit Union, she’s now saving for her daughter and borrowing affordably when needed.
Southwark Council launches £20 vouchers for young savers scheme
New Smart Savers programme aims to teach 11-year-olds about money management
Salary deduction: never worry about saving or loan payments again
What if your savings and loan payments happened automatically before you could spend the money? That's exactly how salary deduction works.
Standing orders and direct debits: understanding your payment options
Confused about whether your bills use standing orders or direct debits? Understanding how each works helps you spot problems before they hit.
Take control: simple budgeting that actually works
How many times have you reached the end of the month wondering where all your money went?
Your complete guide to consolidation loans
If you're juggling multiple credit cards, loans, and overdrafts, a consolidation loan could help you regain control of your finances with one simple monthly payment.