London Mutual Credit Union

General information

London Mutual Credit Union (LMCU) is a financial co-operative that exist for the benefits of our members who live and/or work in London Boroughs of Southwark, Lambeth, Westminster or Camden, Serving members of the British Armed Forces and all worshippers of the New Testament Church of God.
The credit union, like banks and building societies, is regulated by the Financial Conduct Authority (FCA) and authorised by the Prudential Regulation Authority (PRA). Savers’ deposits are protected by the same Financial Services Compensation Scheme that covers banks and building societies.

OUR SERVICES

We provide some of the most comprehensive local banking services to our community including:

- Saving Accounts
- Current Accounts
- Multiple Ethical Loans
- Payday Loans
- Employer Payroll Reductions
- Junior Accounts
- Schools Young Savers

You can find out more by visiting our website:

http://www.creditunion.co.uk

WHAT ARE CREDIT UNIONS?

Credit unions are like banks but are owned by its members as a cooperative. Therefore, unlike banks, credit unions are not for profit, with the profits generated being passed back to its members. Credit unions are regulated by the same regulators as banks but also are mandated by credit union specific legislation, ensuring that they operate more ethically than retail banks.

London Mutual Credit Union for example offers multiple services that are similar to banks such as loans, savings account and even payroll deductions, but at affordable prices.

All credit union are community based or organisation based (i.e. they operate only for those they have been created for). For example, at London Mutual Credit Union, we provide our services exclusively to those living in Westminster, Camden, Southwark and Lambeth, as well as all currently serving and retired personnel of the Ministry of Defence, in addition to a select group of employers in the London Boroughs.

WHY US?

At London Mutual Credit Union, you are not just a customer, you are part of us. Therefore we take each member’s circumstances individually when you bank with us, providing a truly personal service that you do not get at high street banks.

Visit the London Mutual Credit Union to see how you can become a member today:

http://www.creditunion.co.uk/