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Helping you and your family to make your money go further while serving in the armed forces

Salary-deducted savings

Save as little as £10 a month directly from your Ministry of Defence salary.
About saving with us

Personal Loans

Apply for a personal loan for any purpose including consolidating debts, buying a car, or settlement costs.
See borrowing options

Mortgages

Buy a home with market-leading rates, Forces Help to Buy, and advisors who understand the armed forces.
See mortgages

Guidance

From information guides to site visits, we're committed to giving you the tools to make the most of your money.
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Loan calculator

Calculate my loan

Who can join

Credit union membership is open to the whole of the UK armed forces community, including serving personnel, recipients of an forces pension, and family members.
Royal Navy Logo

Royal Navy

  • Serving personnel

  • Royal Navy Reserves

  • Recipients of a Royal Navy pension

  • Immediate family members living at the same address

Get started
British Army Logo

British Army

  • Serving personnel

  • Army Reserves

  • Recipients of an Army pension

  • Immediate family members living at the same address

Get started
Royal Air Force Logo

Royal Air Force

  • Serving personnel

  • RAF Reserves

  • Recipients of an RAF pension

  • Immediate family members living at the same address

Get started

How we're different

Forces Finance is part of the Joining Forces initiative, a partnership between UK credit unions and the  Ministry of Defence.

Committed

Serving the UK armed forces for over a decade, with more than 5,000 members across all three services.

Secure

All UK credit unions are regulated by the FCA and the PRA, and deposits up to £85,000 are covered by the FSCS

Member-owned

Not for profit and member owned with service personnel on our Board of Directors

Buy or re-mortgage from 3.64% - an exclusive member rate

Save big on your monthly remortgage repayments or take advantage of Forces Help to Buy to purchase your first home, with exclusive rates for armed forces personnel and family members.
Buy with Forces Help to Buy

Rates from 3.64% (variable) discounted for 2 or 3 years before reverting to standard variable rate (currently 6.89%). All Mortgages are subject to our Lending Policy and Terms & Conditions. Think carefully before securing other debts against your home. Your home may be repossessed if you do not keep up repayments on your mortgage.

How it works

Join online

Joining online is takes just a couple of minutes. You can sign up and start saving straight away, or do it at the same time as you apply for a loan.

Behind the scenes

We'll contact your employer's payroll with your salary deduction request. 

Deductions via JPA

We will contact the MOD to arrange for your savings and/or loan repayments to be deducted from your salary. We don't share any financial details with your CO.

Manage your money

Check your savings or loan balance at any time using the mobile app or by SMS. Salary deduction makes it easy to stay on track, no matter where you are.
More about salary deduction

What armed forces members say about us

See All Reviews

  • Honest

    Honest. Helpful. Just waiting now for the loan. Truly great to reduce my outgoings and help me get back on track with savings also.

    Kelley

    British Army

  • Salary deduction 10/10

    Applied for a loan to get a new car and everything ran smoothly. Thank you! I've been using this credit union for 7 years now. I joined the salary deduction scheme which I find this absolutely amazing as the loan and savings come straight out my wage and I never have to include it in my budgeting. Using this service has improved my credit score massively. I had an awful credit score due to poor choices. The team are fair and quick and response to emails is quick. The loan tracker is a perfect feature .

    James

    British Army

  • Really easy and trustworthy

    Really easy once you are a customer to re apply for loans in the future. To start they are really helpful and offer good rates coming straight from your JPA to make life easy. Really good company from my experience.

    Chris

    British Army

  • Was good service

    Was good service. Got the loan I asked for and was given in good time. Took about a month the whole process but the advantage is that decisions are made human beings not machine. Otherwise a good service

    Leonard

    Royal Navy

  • Loan application

    Ease of application and uploading of documents. Quick and accurate responses and requirements for my loan application. Very pleased and would highly recommend.

    Ratu

    Royal Navy

  • Very quick and efficient

    Very quick and efficient. Definitely a hassle free way of getting some much needed cash. Thank you London mutual

    Connor

    British Army

Why we exist

Building the financial strength of our armed forces

Serving your country brings lots of challenges—professional, personal and financial. The complexities of Forces life mean that sometimes, it’s hard to plan financially for the long-term. Civilian-oriented financial providers aren’t always geared up for the individual circumstances or complex address histories that are typical in the Armed Forces, and things can get especially tricky when you are looking to borrow.

Since 2015, the Ministry of Defence has partnered with Forces Finance, alongside two other UK credit unions, to provide a solution as part of its commitments made in the Armed Forces Covenant. As not-for-profit, member-owned institutions, credit unions are designed around the needs of our members, and based around an individual, personal approach.

Our salary deducted tools make it straightforward to build savings over your career, and to borrow conveniently when you need to, no matter where your Forces career might take you.

About London Mutual Credit Union
Johnson Beharry VC, who became our first armed forces credit union member in 2015

Become a credit union member

Becoming a member of London Mutual takes about five minutes via our secure online form.
Become a member

The latest

Shopping around for insurance: a guide for service personnel

Insurance is boring, but getting it wrong as a service member can be expensive. Here's how to find decent coverage without overpaying.
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London mutual credit union awarded Armed Forces Covenant Silver award for outstanding support

London Mutual Credit Union receives the Armed Forces Covenant Silver Award, recognising its exceptional support for UK Armed Forces personnel and veterans
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leaving the forces

Planning your financial future: getting ahead while you’re still serving

Starting to think about your finances from your first posting might not seem urgent, but it's one of the smartest moves you can make for your future.
Read story

A military spouse’s experience: why armed forces families choose us

As a military spouse and member of the credit union's staff team, I know first-hand the benefits of membership for armed forces families.
Read story

BFPO addresses and credit: a guide for Forces personnel

Address history is key to building good credit, but frequent moves can make it challenging for armed forces members.
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London Mutual launches dedicated credit union service for members of UK Armed Forces

Victoria Cross recipient Johnson Beharry VC becomes founding member of new military credit union scheme
Read story
To protect privacy, some of the images used on this page feature models. They are based on real roles and settings, but do not show actual serving personnel. Any resemblance to real individuals, insignia, or ranks is coincidental.