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Tel: 020 7561 1786 (Multilingual advisors available)  •  Fax: 020 7272 8192  •  Email:

Thu 24-Aug-2017
About Us About Us

About The Credit Union

The Credit Union can trace its roots back to 1962 when it started to provide low cost loans and secure savings accounts. Our primary objective is to encourage people to save, but we also provide low cost loans when people need to borrow. We are now one of the largest and fastest growing credit unions in the UK. Membership is open to anyone who lives, works, studies or worships in these areas - Barnet, Camden, City of London, Hackney, Haringey or Islington OR is a member of, or an employee of The Co-operative Group in London and the South East Region(Berkshire, Buckinghamshire, East Sussex, Greater London, Hampshire, the Isle of Wight, Kent, Oxfordshire, Surrey and West Sussex) OR is a member of Unite the Union OR Unison in the Greater London Region OR is an employee of any one of the following organisations anywhere in the UK:

Amey, Barts Health NHS Trust, Bright Horizons, Cineworld, Circle Housing Group, Citizens Advice, East London Foundation NHS Trust, East Thames Housing Association, Fremantle Trust, Guardian Media Group, Homerton NHS Trust, Hyde Housing, Jewish Care, Local Space Housing, Metroline, Middlesex University, Moorfields NHS Trust, One Housing Group, Origin Housing, Radio Taxis Group, RNIB, Southern Housing Group, University College London, UCLH NHS Trust, Unison, Unite the Union, Veolia Environmental Services, Workers Educational Association.

Credit Union Services

Anyone who saves with the credit union becomes a member of the co-operative and can use one of several savings/budgeting accounts open to them. Savings can be withdrawn within 5 working days upon demand. The savings form a pool of money held in trust. Any member can apply to borrow from this pool of money. Because it is largely volunteer run and has no outside shareholders it can offer low cost and flexible loans to its members.

Ethics, Values & Principles

The primary objective of the credit union is to promote sound financial management by encouraging people to save rather than borrow. Unlike other financial institutions there is no minimum savings level unless you take a loan, and no minimum loan value. By encouraging saving we prevent debt. Our ‘Saver Loans’ see part of any repayment allocated to the members’ own savings account, so as the loan is paid off, the member accumulates savings. Over time members build up savings and end the cycle of borrowing. We specialise in helping people on low incomes, and/or facing problems with debt. The credit union offers a range of information and support for members in financial difficulties. The low cost loans provide a real alternative to people who would otherwise borrow using expensive bank loans, credit cards, or even payday loans. Everything we do is guided by the internationally recognised Co-operative Values & Principles.

Democracy, Equality & Fairness

As a co-operative we operate differently to other businesses owned by shareholders. Our Board of Directors are directly elected by and from our membership, on a one person one vote basis. In a conventional business the more shares you have the more votes you have meaning that only the wealthy have any real say or control. In a co-operative any member has an equal say in the running of the business. This is the reason we have different ethics, values and principles than most of our competitors in the financial services market, and why we return any financial surplus to our members in the local community rather than to wealthy individuals in offshore tax havens. These co-operative values and principles set us out as a more democratic, equal and more fair way of doing business.

Financial Security

The credit union is Authorised by the Prudential Regulation Authority and regulated by the Financial Conduct Authority and the Prudential Regulation Authority. Firm Ref. No. 214094. The regulation is the same as for other banks and building societies, requiring robust financial systems, training of staff, and internal/external audit systems. Insurance policies protect member’s savings from fraud, theft and dishonesty. Although volunteer led, the credit union has a compliment of staff that are highly qualified and experienced in the field. Ultimately the members’ savings are protected against business failure by the Financial Services Compensation Scheme. For further information please click here:

Wider Movement

Credit unions form part of the wider international co-operative movement and can be found in 103 countries, with over 208 million members. In the UK there are 362 credit unions with 1,197,000 members. Further information about the wider movement can be found using the 'Useful Links' section of our website.

Find Us here:
  • London Capital Credit Union
  • Tel: 020 7561 1786 (Multilingual advisors available)  • 
  • Fax: 020 7272 8192  • 
  • Email:
  • Web:
Authorised by the Prudential Regulation Authority & regulated by the Financial Conduct Authority & the Prudential Regulation Authority. Firm Ref. No. 214094