Salary deduction partnerships

Improve financial resilience in your workplace with salary deducted savings and loans.

London Mutual Credit Union works with NHS Trusts, the Armed Forces and 25 other major employers across London to offer salary deduction as an employee benefit to their staff.

Salary deduction is a proven way of encouraging staff to build savings. And regardless of your organisation’s size, it is easy to implement, with zero setup or running costs.

Why London Mutual


We were founded by employees of Southwark Council in 1982, and continue to be owned by our members.


Our mission is to support our members, not to make a profit. So you can trust us to act in your colleagues’ best interests.


We are trusted by major public sector employers, and are  regulated by the Financial Conduct Authority and PRA.


Our approach is reassuringly simple and easy to implement, without complex IT and with low setup costs.

Who We Work With

London Mutual Credit Union was the first provider of salary deduction in the UK, back in 1982. Today, we work with over 25 major employers, including leading London NHS Trusts, local authorities, and the UK armed forces nationwide. 

What Colleagues Say

We regularly survey members taking part in the salary deduction scheme through our partnerships with employers. Overwhelmingly, it is a popular staff benefit, and one which reduces financial stress and improves wellbeing.


'London Mutual cares about its members'


'Being a member of London Mutual has saved me money'


'I have spent less time worrying about money since becoming a member'


'Being a member has made me better prepared to deal with the financial shocks of the past year'

Survey of current London Mutual Credit Union members November 2020, 554 respondents participating in salary deduction scheme via their employer.

Arrange a call

If you are interested in how we can work together, or would like to know more, please get in touch.

Ben West
Head of Business Development
[email protected] 


Information Pack

Enquiry form