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

Wed 16-Aug-2017
NewsHow does a credit union work?
7 September 2015
How does a credit union work?
When people first find out about us, they often ask us how a credit union works. Well, it’s quite simple really…

A credit union is open to anyone who lives, works, studies or worships in a certain geographical area or who works for certain employers. Nearly everyone in the UK is eligible to join a credit union.

Membership of London Capital Credit Union is open to anyone who lives, works, studies or worships in Barnet, Camden, City of London, Hackney, Haringey or Islington. You can also become a member if you are a member of The Co-operative Group in London and the South East Region or if you are a member of Unite the Union in the Greater London Region. Employees of a number of organisations anywhere in the UK can also join. Click here to find out more.

Everyone who joins a credit union becomes a member of that credit union and can benefit from the services it provides – that can be loans, savings, financial advice, pre-paid debit card services and much more.   

A credit union is a financial co-operative and follows a set of internationally recognised values and principles. Credit unions aim to promote sound financial management by encouraging people to save rather than borrow.

Members of a credit union have a direct say in the running of their credit union. At our Annual Meeting members elect a Board of Directors (who are also members of the credit union) on a one person one vote basis. This means every member has an equal say in the running of the business, unlike businesses owned by shareholders, where the more shares you have the more votes (and power!) you have.

All of this means we are totally different to most of the other financial services providers out there – we always put our members first and at the end of the year we return any financial surplus to our members in the form of a dividend.

To find out more about us click here and to join click here.

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