Like any tool, borrowing can be useful, but it needs to be handled with care. Knowing how and when to borrow, how to spot signs of trouble and how to avoid them, are all crucial steps to borrowing with confidence.
News & Blog
Get the latest news, product and service announcements from London Mutual, along with our Money Gym financial education blogs.
How to ace your holiday planning
before you throw the suntan lotion into a bag and head for the beach, check out our top tips for making your money go further while you’re away.
What’s the deal with APR?
When a company offers a loan, credit card, mortgage or store credit, by law, they’re required to show its APR. But what does APR actually mean, how is it calculated, and how can you use it to get the best deal?
Building a digital credit union
At London Mutual, becoming fully digitally-enabled is a journey—and one we’re determined to bring all our members with us on. We speak to program manager Leanne Phillips about how we’re ensuring that digital isn’t just for the digitally savvy.
Metin’s story
Metin Basaran was living in a hostel when he first heard about London Mutual Credit Union. He heard lots of good things about being a member, so he signed up. He took a current account, which he’s stuck with. “I haven't got a card but the reason being, I just budget a...
The lowdown on lending
Matthew Sweetlove is head of lending at London Mutual Credit Union. He’s worked for the union for 15 years. “It’s great to feel like you are helping people. Many of our members are financially excluded, they have no other alternative but to go to high cost lenders or...
Lucy Wright’s story
Lucy Wright, who works for Southwark Council, had got herself into a bit of a spiral. Some bad financial decisions years ago left her with a bad credit rating, and she was getting charges from her bank every time she went overdrawn, making the situation worse. She...
London Mutual: how does it work?
Always wondered about how our credit union works, but afraid to ask? We caught up with Lisa Walder, the Deputy Manager of our branch in Peckham to talk you through it.
New in London: Azeez Dasaolu
Azeez Dasaolu moved to the UK in the summer of 2009, and soon found himself a job, at Guy’s and St Thomas Hospital. But his lack of credit rating held him back from fully settling: “When you don't have credit history, it's difficult for you to access credit or other...
Androulla’s story
Androulla Surrey has been a member for over 18 years
Things we’ll never ask you to do
If you get an email or a phone call about any of your credit union accounts, please remember these eight things LMCU will never ask you to do: Ask for your full PIN or any online banking passwords over the phone or via emailSend someone to your home to collect cash,...
How to stay safe at the cashpoint
If possible, use a cash machine inside a bank or shop – if that’s not possible, check the cash machine every time you use one and look out for: a wobbly or bulky part that doesn’t seem to belong with the machine, such as a cover over the card slot or a loose keypadbe...
A word about your memorable word
When we introduced the new banking system at the end of 2016, every account was allocated a memorable word. You will need your memorable word if you phone the Help Desk and you may be asked to confirm 2 or 3 digits of it when you come to a branch for any transactions...
All about GDPR
You may have heard talk on the news about GDPR – General Data Protection Regulation – here is a short guide to explain how it could affect you It’s the biggest change to UK data privacy law in 20 years Thanks to technological advances, the amount of personal data...
Make your money go further this Christmas
A lot of people worry that Christmas is just around the corner, and there is still so much to do. Below are three simple steps that may help you navigate the winter holidays this year.
Why we we launched our CUOK pay day loan
When developing our product, we were shocked to see some of the practices enacted by opportunistic companies at that time.Keeping a lookout for these practices, and others like it, can save time, money and anxiety in the long run
Camden branch closure
Camden Branch It is with great regret that we have come to the decision to close our branch in Camden at 347 Royal College Street with effect from 22nd June 2018. The decline in the number of members using the branch, increased costs, and the development of our online...
Credit Unions Around the World
The 2018 World Cup in Russia is well under way. People around the world are hoping that their national team will lift the most prestigious prize in competitive sports, and traits such as respect and community are on full display. Likewise, Credit Unions concepts are also acknowledged worldwide, and in 2018 we can see that […]
Four practical ways to stay safe online
The amount of buying and selling online is increasing year upon year. One of the downsides of this trend is the arms race happening with online security measures trying to outpace tech savvy criminals, who can now perpetrate their hacking and pitch scams worldwide. While companies and business have a duty to protect your information, there are […]
3 common questions about credit history
Credit history tracks the reliability and the ability of you as the borrower to keep it up with the financial obligations, your payment patterns and how many other financial commitments you currently have. This has proven invaluable for financial institutions like banks and credit unions to assess the loan applications of the borrower’s ability to […]
Three simple steps for a financially healthier 2018
With Christmas in the rear view mirror, our attention turns to the end of 2017 and beginning of a New Year with new possibilities. With the bank holidays coming up, it would be beneficial to take time out to organise your finances for the coming year. Making up a budget is vital, as more and […]
Practical ways to lessen impulse spending!
Impulse buying describes the phenomenon that causes you to make that extra purchase because the need for it becomes suddenly very necessary. It can be as small as buying a packet of chewing gum while you are waiting at the checkout, or as big as an expensive car during a sale. You may be well […]
Top 3 differences between Credit Unions and banks
The financial services industry dominates advertising and news coverage, which is to be expected as finances are an everyday concern for people. There are thousands of different companies competing to help manage people’s finances, and it is not always easy to make comparisons in order to see what best suits their needs at any time. […]
Don’t get caught out by £1 Deadline!
In the UK, we love to keep things interesting. By the end of 2020 we will see the biggest period of currency transition in decades – from paper to plastic notes and from round to twelve sided £1 coins. New Money The new pound coin was deemed legal tender on the 28th March 2017. Now […]
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