News & Blog

Get the latest news, product and service announcements from London Mutual, along with our Money Gym financial education blogs.

Three simple steps for a financially healthier 2018

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!

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

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!

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 […]

Armed Forces Covenant  Bronze Award

Armed Forces Covenant Bronze Award

LMCU is honoured to receive the Employer Recognition Scheme Bronze award from the Armed Forces Covenant and are committed to work with all the MOD personnel. The Armed Forces Covenant is a promise from the nation that those who serve or have served, and their...

New branch in Southwark

New branch in Southwark

Tom Watson MP, Deputy Leader of the Labour Party, was the guest of honour at the opening of a new credit union branch in Walworth Road, Southwark, on Thursday 3rd March. The new London Mutual Credit Union branch is equipped with its own ATM service, five spacious...

Launch of Credit Union Services for the British Armed Forces

15th October 2015 marks the launch of the provision of Credit Union Services for the British Armed Forces by the London Mutual Credit Union. London Mutual Credit Union is one of three credit unions in Britain selected by the Ministry of Defence to help Armed Forces...

New Lost & Stolen phone number

Please note that the lost and stolen phone number has now changed to 0345 603 8702. Calls to 0345 numbers cost the same as a call to a standard "01" or "02" landline number, even when calling from a mobile. Calls to an 0345 number are also included in any bundled...

New compensation limits

The FSCS deposit protection limit is changing from 1 January 2016 to £75,000. Deposits currently eligible for £85,000 compensation will remain protected up until 31 December 2015 to allow customers to reduce their balances if necessary. From 1 January 2016 the new...

Visitors from Kenyan Credit Unions

LMCU welcomed a delegation of 34 credit union professionals from Kenya. As at December 2014, Kenya has got 4,965 credit unions with 5,103,231. Over 20% of the Kenyan population are now a member of a credit union.

Southwark Smart Savers scheme

We are happy to share some more lovely news. A new initiative by the Southwark Council gives every 11 year old child who lives in Southwark a voucher worth £10 to open a savings account at London Mutual Credit Union. We believe that this monetary incentive is being...

London Mutual Credit Union featured in the Guardian News

London Mutual Credit Union was featured in the Guardian News online today talking about how The Duchess of Cornwall has an account with us! Camilla was eligible to join London Mutual Credit Union because Clarence House is in the City of Westminster which is one of our...

135 New church members

Here is the moment on Monday 27th October that the Reverend handed over 135 new member applications to the LMCU from the South London Citizens! Fantastic news! A group of Peckham residents brought the applications to LMCU to highlight the services offered by our local...

Palace of Westminster staff can now join London Mutual

Agreements with the Parliamentary authorities mean that anyone working in the Palace of Westminster can now join London Mutual Credit Union and save or repay loans direct from their wages. The initiative was launched on the 25th November 2013 at an event in Parliament...

Labour Leader Ed Miliband joins London Mutual Credit Union

We are pleased to announce that the Labour Leader Ed Miliband has joined the LMCU on 17th October 2013. We also welcomed the Bishop of Southwark Rt Revd Christopher Chessun who also has joined the LMCU to show his support for the credit unions.

Launch of our brand new mobile apps

We are thrilled to announce that our brand new Mobile Apps are ready for you to download. All apps are now free to download and easy to use, 24 hours a day. Now you could keep a track of your finances on the go 24 x 7 x 365. What you can do using Mobile Banking Apps...

Merger with Camden Plus Credit Union

London Mutual Credit Union (LMCU) is pleased to announce a merger with the Camden Plus Credit Union (CPCU) and as from 1st June 2013 everyone who lives or works in the London Borough of Camden will have access to our range of products and services. Due to financial...

Minister for Welfare Reform David Freud

The Minister for Welfare Reform David Freud showed his support for credit unions by applying to open an account at London Mutual Credit Union on Wednesday (22May). Lord Freud spoke to staff and members at the credit union's Peckham branch about the Government’s...

London Assembly Member Fiona Twycross

London Assembly Member Fiona Twycross joined London Mutual Credit Union in May 2013.Fiona’s Committee work at the Greater London Authority – she is currently leading an investigation in to the issues of food poverty in London on behalf of the London Assembly’s Health...

Duchess of Cornwall visit

The Duchess of Cornwall who often supports organisations that offer practical help in their communities has decided to join a credit union.The Duchess wants to highlight the practical help that credit unions offer their communities in these difficult economic times....

Dedication recognised

We would like to congratulate Leanne Phillips, an employee of London Mutual Credit Union (LMCU), who has been awarded the Association of British Credit Union's (ABCUL) Tracy Slane award for 2013. Tracy Slane served as the ABCUL Conference Officer until her untimely...

Sharing our profits

During the financial year from 1st October 2011 to 30th September 2012, over £110,000 has been returned to London Mutual Credit Union members through a combination of a 1.5% dividend on their membership shares, 5% interest on Junior Savers shares and 3% interest on...

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